Sandra For transparency purposes, I believe you meant to say that you purchased a turnkey property from Memphis Investment Properties, not Memphis Invest. 

Any amount you purchase less than you sell, or any amount of cash you take out is considered to be profit. 

Santarelli allegedly purchased from a government auction from the bankruptcy trustee and relaunched online.

The substitute of collateral was more of a scenario where you sold for $155K, and instead of paying off the $88K loan in your scenario, those funds stayed at the title company and were used on a cash purchase happening nearby in date. 

I just purchased my first duplex (only SFHs in my portfolio so far) and it doesn't have the gas/water split.

A multi-unit property was purchased for $140k. 

Current timeline to purchase is probably 6-12 months as I start narrowing down and visiting some of the places to get a better idea over the next few months.

If you are looking to just calculate profitability, set how much profit you want to make then:ARV - Purchase Costs - Holding Costs - Selling Costs - Desired Profit - Rehab Budget (including contingency) = Maximum Allowable OfferIF you cannot calculate those numbers, a spreadsheet isn't going to help you. 

I purchased this 8-week Momentum package two weeks ago and am still waiting for the Zoom Meeting information, as it starts tomorrow at 2:00 p.m. 

Regular home purchase or sale?