You would need an extremely high grossing property under market value on a something like a 5 year lease to profit, and you probably will not profit after startup costs until Year 2 or 3.Do not even think of trying it with 1/2 bedroom apartments or condos nor 2/3 bedroom homes. 

Again, it depends on the borrower's priorities (time / energy / fees / opportunity cost of finding new deals / etc)4.

purchase and rehab, sell 236k, with seller contributions, holding closing and selling costs ...

Today it has good cash flow (~$6k/month using 49% expense ratio) and is up ~$1m above costs.  

. - I've had multiple vacancies, including one where the tenant left after a year and cost me $6k in turn costs.

@Matthew McleanBigger Pockets is a great place to find an accountant specializing in real estate taxation.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.

Let me know what experience you have and what monthly cost you paid for these utilities. 

Roll them all up and the averages are:purchase $154krenovate $47Ksell $232kThese are gross numbers, not including closing costs, borrowing costs, holding costs, licensing and permit costs, G&A, overhead, commissions, forward rate buy-downs, and lease-up fees, to name a few of the many expenses incurred. 

Then if I have additional concerns I call in an expert to get further information and an estimate on what the repair will cost.

Our contractor wasn’t prepped for the bespoke chaos, costs ballooned 20% over budget, and the timeline stretched from three months to eight.