When I had arrived I found out that this guy had one truck, his own personal vehicle that doubled as his work vehicle.. and some personal tools.

@Luke Tetreault I am new myself and working currently to get to that point, but what I intend to do at your point is to JV on deals or offer PML for high turnover deals (EMD/ Double close).

We got bank financing on this property and having a local bank doing DD on the property to protect their own money seemed like a sensible way of double checking your own DD!

I carried double the cost on Gas and Electricity to be safe. ==== Projected Income ====**Off Season**-$4,000/Month Rent Period: September - May (7 Months) Projected Income: $28,000**Summer 1**-$8,000/Week Rent Period: June (4 Weeks)Projected Income: $32,000**Summer 2**-$8,500/WeekRent Period: July-September (12 Weeks) Projected Income: $102,000**Optional** (Basement Apartment)-$2,000/Month -Rent Period: Year Round Projected Income: $24,000TOTAL PROJECTED INCOME: $186,000 ==== Operating Cost ====-Mortgage: $84,000 ($7,000/Month) -Utilities: $36,200Gas $6,000 ($500/Month) Electricity $6,000 ($500/Month) Internet $2,400 ($200/Month) Garbage $5,000 (Estimate) Pool $4,000 ($250/Week)Landscaping: $4,000 -Mowing: $2,400 ($150/Week)  -Clean Ups: $1,600 (Spring & Fall)-Weekly Turnovers: $8,800 ($550/Week)==== Legal Cost ====Summer Rental Fee: $20,100 (15% of $134K)Sandwich Rental Tax: $6,855 (15% of $45,700) NET PROFFIT: $38,845.00

When I made some changes to the property and put it back on the market about 15 months later for double what I paid, it was under contract in 48 hours.

You can double close. 

This gives you a more realistic picture and protects you from unexpected surprises.

Don't use so many pictures.

I'm looking to buy more 2-4 units and double my portfolio this year

I know for sure that in my area of Texas (well outside of major metro areas), we've seen the cost to build new homes almost double in price.