Purchase price: $230,000 Cash invested: $283,550 Sale price: $283,500 Purchased off market. $25,000 Rehab. $20,000 profit after realtor commission.

you have to inspect BEFORE the sale. 

I looked at the comparable home sales and felt like the prices he wanted left me with enough room to make some money.

Since you can't control the sale price, you basically have a $4k cushion to your reno costs, or otherwise you lose money compared to the as-is scenario.

Purchase price: $540,000 Cash invested: $108,000 Sale price: $540,000 My client bought a condo in Lincoln park.

@JR Gonzalez, You can allocate the proceeds from your sale anyway you want. 

The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.

Investments from CA tech companies is driving job and population growth. 

Unless you are unknowledgable, my bet is you could make more from rent than sale, and still have the benefits of owning the original home while you go do something else.The 25K you have left in property will be netting you(gross) of $350 mo or 4200 per year.

These props were in good areas so I am guessing that is why. keep in mind true A class areas whould see majority of comps being sales to homeowners NOT investors.. homeowners dont care what the cash flow is or the potential rental income is only investors do..