@Collin Schwartz @Stephen SykesCollin & Stephen, I'm so grateful to have the pleasure of our interactions!

I would anticipate about 40k gross per year based on what we get from the other STR, so I don’t think it will be strictly an appreciation play.

Again, the BiggerPockets store has some books on this topic, or you can learn about it by watching podcasts, reading blogs, and interacting on the forum.

Of course, after that brief interaction, I'm pretty sure I just become lost in a sea of other text messages.My question is do any of you see a way to utilize a strategy like this?  

I agree with the "it depends" approach when it comes to determining reserves, but generally, it should align with the age and anticipated maintenance needs of the property.For example, we have a duplex built in 2003 with the original AC units and roof.

Hey Lucas, If you are a first time flipper, I would anticipate 75% on the initial purchase price/ 100% of the rehab financed. 

Especially if you anticipate making any repairs or value add pieces. 

All I can say is I’ve seen it time and time again, accuracy in your estimates, detail in your work, and anticipating future costs/market changes and building contingencies in your budgets may cost you some deals but will save your investments. 

Again, the BiggerPockets store has some books on this topic, or you can learn about it by watching podcasts, reading blogs, and interacting on the forum.

We were told the offer was shared with the seller, one refused, the others never responded back.All offers we make clear that the lease is only until closing which we anticipate taking 9-10 months.