Along with the HM costs, that totals 20%, leaving you 15% of ARV in net profit.So if you buy and rehab right, you should be in good shape and making twice as much as the HM lender, which is a good goal.A good thing about doing more volume using HM is that you will build that great track record quickly, which will potentially open doors to cheaper private money, and will also enable you to negotiate lower rates/points from HMLs, and potentially also obtain 100% financing from HMLs, which will also help to accelerate your business growth.

Alternatively, I'm wondering if I should start developing my own spreadsheet to enable the specific analysis I want to perform.

I've got it set up to enable the tenants to pay online, submit maintenance requests, etc., through the tenant portal.  

Renting enables "freedom."

If renting, my rule of thumb has always been improvements/updates must  enable me to receive more rent and/or rent it faster and/or get a better quality tenant. 

For practical purposes, any arm's length transaction ought to involve a title search/title insurance, which would enable the seller to execute a warranty deed.

3.How much did it cost you incorporate or LLC your business to enable you to do business throughout the US?

Adrian, If the work is permitted then I would say go for it, local jurisdictions have laws that enable a homeowner to do certain repairs but in this case you do not claim this your homestead which means all work is to be done by licensed contractors.

Recently an interesting opportunity arose that could enable me to bid adieu to the desk job and enter the real estate field full time.The business mainly features gutting and rehabbing row homes for immediate resale in Baltimore, MD.

My opinion of what the unit needs may be much different than how they may perceive what it needs and what they feel it needs may turn out to be far less expensive.If I can't work out a feasible deal with current tenants to enable me to get in and do work needed, I think I will probably wait for then to vacate naturally, I don't want to force them out when they are actually paying rent.