I lived there for 30 years so it has a soft spot in my heart.

By requesting a soft inquiry instead of a hard inquiry, you managed to avoid any negative impacts on your credit score.

Well I think you will find it very difficult to achieve r 15% CCR via turnkey these days in any market, assuming you allow sufficiently for soft costs like vacancy & maintenance.  

As an example: Cost plus-- 300k land + 450k construction costs (150/ sq ft inlcd builder margin)+ 50k soft costs= 800 all-in cost. 900k fair value (300/ sq ft) for a total personal gain of 100k.

If you are considering the possibility of getting into this business make sure you account for all of those soft costs that eat up your profit margin.Here are a couple photos of the house when we got done:

My mom always said "A hard head makes a soft behind."

It was in decent shape, except it had a leak in the slide out seal and about a 2ft square of floor was soft enough that i replaced it along with replacing the carpet with vinyl ( after owning a carpet cleaning business I saw how disgusting and dirty carpets are ) so, i bought it to flip but, then i met someone that needed a place to live so, i let him stay there for a few months and after he moved someone ( the guy that rents it now ) offered to pay me $500 a month if he could rent it ..and ge would mow and help take care of my yard ...I hate taking care if my yard ... you can guess what  happened next .. lol..

Let's add up the cost:Rent: $42,000Utilities: $8,400Maintenance/soft items: (small repairs necessary to keep it going, large items on landlord, replacement sheets etc): $3,600Yard/Pool/Pest Maint: $4,200Total: $58,200Annual Profit: $16,800 However, you will have needed say 2 months security, and a minimum of $20,000 to furnish the property (likely more, I usually figure $20 a foot all in). 

This reserve price I have found out comes in two categories: hard and soft (just ask).

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