I met Kevin much later at a meet up through Subto and saw his phone notifications and how he has hundreds of people reaching out to him daily. 

The problem is the buildings are in major need of repair...and because of this, rents are one of the lowest in town. 

. - You should hop on a phone call with some agents in the market you are interested in and ask about the area, their experience, to run some numbers with you and then even do some virtual tours with you of some active listings. 2.

You may have to do make ready paint/carpet or other repairs. 

My cell phone is for the business, so we deduct it as a monthly expense.

Most people use their phone and it’s a pain to stay logged in on your phone. 

Future flips should focus on negotiating better deals and ensuring a strong after-repair value (ARV).

Then I spoke to him over the phone later that day, and he told me, that unless I answer him if I wanted to buy the property within a few hours, I will lose the chance to get this property, claiming that there will likely not be such chances again in the future.

Year long lease typically, with subletting allowed to offset summer months cost to tenant.I worked out some high-level math: Assuming there is a 6 bedroom single family house for sale for 800k, and I can rent for 6k/month.Financing: 350k cash, 450k loan @30yr, 3.8%.Assumptions: 7% vacancy/yr, $4000/yr repairs, $10k/yr property tax, $4k/yr insurance, 8% management fee+50% first month rent on new leaseMonth-to-month breakdown: Income: $6000 Vacancy, Mgmt fee, repair, taxes, insurance: $2300Loan PI: $2650I'd take home ~$1000/month. 

Generally - the depreciation on the structure, mortgage interest, property taxes, repairs & maintenance, insurance, property manager, utilities, vehicle expenses (mileage), professional fees (reports/CPA), home office (office supplies, percentage of utilities, continuing education).