I'm in the SF Bay Area and my predominate factor is [the amount of time I estimate for rehab (I'm a contractor) and the closing time and the average DOM (days on market) before I expect to receive an acceptable offer] vs [the amount I can potentially make.]For example, it may not be 30% margin (less 10% holding costs) but if I can make a hypothetical 50k on a 6 month flip on a deal where I have 150-200k of skin in the deal, I will deem that as acceptable--granted I factor in a healthy cushion for additional holding time and additional rehab cost.

Also, stains on couch cushions and the fabric on the dining room chairs that might not come out.

In a strip mall, where the landlord often has to perfrom major renovations to accomodate tenants, and where units can often sit vacant for years, you would need to raise a disproportionatly high cushion so that you don't have to go to partners leter...I don't love syndication for this space.

What do you think is a safe cushion of equity to have in a property you're holding, in this volatile market??

A $300 cushion before expenses means you'd be in the red once they are added in.

At the same time, you need to have a strong financial position, great cash flow, and a cash cushion.

The only difference is the structure which the price to knockdown can easily be subtracted and still be a cushion. 

Know the numbers of a deal that you're going to pursue, have REALLY thorough inspections, & make sure that you have a cushion so unexpected repairs don't put you in a bad place when you're just getting started. 

I buy them low enough that i have enough cushion to deal with potentially major problems

Remember to always build in cushion room since assets overall are more expensive right now.