This was a slow, non-traditional flip that included installing new subfloors, tile, PEX, cabinets, sinks, faucets, windows, landscaping and wiring/outlets/switches/fixtures, studding new walls, refinishing the original hardwood floors and clawfoot tub I found at a salvage yard, building the master bath vanity from scrap wood, hanging drywall and beadboard, and turning an awkward landing/closet/powder room combo into a full bath. 

I own an non-HOA attached townhouse is Powder Springs, GA.

You are going to get infinite returns with the cashflow, your debt will turn into equity as the tenants pay off the notes, you get to depreciate the assets to save money on taxes, you have the potential opportunity to boost your NOI by 20%, plus you keep your powder dry for other deals.  

Go to HML, do a few flips and keep some dry powder in case of emergency.

@Greg HamerI agree with you 100% on that unless you are all cash, there is no point investing in RE today, as the 4% you will be making, after all the hard work, goes to paying the bank....That said, this indicates a peak to me.....SO be patient, and keep your powder dry....

I am going to sit and keep my powder dry for now.... 

I am keeping my powder dry and waiting for the dip

@Ben Leybovich,What you described is more a deal that only the ill-advised would take on: a deal where the numbers don't work or where the person looking at the deal hasn't yet learned how to run the numbers and make sure they work before attempting to move forward.In the case you describe, a "PIG" is a Poor Investment Gamble.As I understood @Leon Chappell's question, a "pig" is more like a home I looked at a couple weeks ago: not updated since the 1970's, pink, green and yellow bathroom tile and fixtures, each color in a separate bathroom or powder room, gas cooktop and oven still using pilot lights - the oven would probably slow-roast a sirloin tip roast in about 12 hours just from the pilot light alone, daylight was visible around the basement door to the backyard, ... that sort of thing.

Like a high tech business opening up an office down the street.If you don't have that type of an advantage, then keep your powder dry, wait for the right time to buy in the neighborhood that you know like the back of your hand.Your time will come my friend. 

He found white and black mold in the attic, and then found powder post beetle bugs on all the floor joists in the house built in 1924.