Homes have been sitting much longer, and sellers have their reasons to sell.

Simply put, we start off with the As Repaired/Completed Value (ARV), then subtract from that number a reasonable profit, the rehab cost (scope of work), which we've gotten good at, a contingency reserve for any "unexpecteds", our cost of capital/carrying costs (interest and costs of the leverage used), and our costs/fees on the buy and sell sides of a flip.

@Liz Lynn Great example of a reason to do your own DD first rather than depending on realtors/others.

Any reason why you need a "private person" here? 

One more reason why people should stop looking for the easy path to building wealth.Increase earnings, reduce expenses, save, and invest.

There are five reasons to renovate a property:Attract the right tenant poolIncreased rentDecreased time to rentIncreased tenant stayReduced maintenance costNotice that I said “the right tenant pool.”

Many reasons for this.

Two parents and 4 kids seems reasonable, but my houses are really tight with more than 8 people milling about. 

The only reason he did it was because it led to additional work.

(The same reason many people (maybe mostly men?)