@Nathan Johnson "Our savings are minimal, since teaching isn't very lucrative and life is expensive."

Costs include a conversion fee, potential property upgrades, and legal expenses.

This home has been highly operational with high rates of occupancy, bringing in anywhere from $500-$1500 a month in overage beyond our monthly expenses.

Friends wanted to rent it and so we did and they always paid on time.

I see the discussion, but it's talking about the amount "Jim" can take for the next loan, not anything about the time period between when one loan is paid off and the time until he can request a new loan.Asking more out of curiosity, I would be surprised if John Hancock had something incorrect posted on our retirement plan web page. 

This home has been highly operational with high rates of occupancy, bringing in anywhere from $500-$1500 a month in overage beyond our monthly expenses.

the property tenants paid for my wife's new car that we needed.

It scales up to 37% once you get to around $12k of income but the UBIT is calculated after the first $1000 is deducted along with expenses and depreciation again only on the same % the property is mortgaged.

It's very expensive to move a home out, in most cases you'll be paying for it and then it will take several months to replace the home.My favorite model is the RV LOT Model, instead of replacing the lot with a mobile home set up a RV lot.

Originally posted by @Travis Lemley:They will most likely vary significantly with flips being more expensive.