The low purchase price, combined with an established market demand, made this an ideal transaction for a fast turnaround and profitable outcome.

On your tax return you would report the proceeds, subtract costs and proceeds paid to seller, then the remaining profit would be your flat fee.

Market Selection: What factors do you consider when choosing a profitable location?

After waiting out a lengthy eviction and doing nothing more than a clean-out, we listed it with a realtor—and walked away with just shy of $200K in profits!

Those agents can be profitable on lower priced properties.  

In the last two days, I met with two business sellers who have net profits of $580,000 and $600,000 per year respectively. 

Although there is potential profit in this kind of profit, there is also more risk associated as the repair costs can pile up quickly and create a scenario where you have invested more into the property than the repaired property would actually be worth. 

If you adopt a solo 401k as a Sole Prop you won't have to run payroll and incur payroll taxes and you can still do $23,500 plus 20% of the profit as a profit sharing contribution.

If I owe $350k mortgage and I take out $100,000 HELOC and spend it on say a 6 month CD,And then I sell the house for $700kI would only have $250k profit right?

Suggesting to them buying their house for a wholesale range offer or lower dependent on the extent of the rehab, then having a contract in place that gives them a percentage of the profit to help get them back on their feet, paying off debts etc.