@Robert Taylor I think most folks do:Buy - Fixup - Sell/Rent which usually takes a minimum or 3 months here in Boston or New Hampshire.A Flip to me, is like with a coin, takes less than a second to determine Heads or Tails not 3 months.

@Michele Fischer   Michele  that is the best representation of low end rentals that has ever been coined.. perfect  I am going to steal that if you don't mind...

I made an 'income statement' for the property and came up with the following #'s; Effective Gross Income = $29,760 ($32,400 + $600 in coin laundry less 10% vacancy allowance) Total Operating/Fixed Expenses = $13,737 ($3987 in property taxes AFTER renos and at an assumption of a new assessed value of $300k- used formula on city website to calculate this #) ($4464 for reserves and replacements (15%)) ($1786 in management fees (used conservative 6%, but I would be doing this, not another company.

A silver lining in the clouds...So there are two sides of the coin in recessions, one side is perhaps less demand the other is potential bargains. 

My coin. 

Another factor in my plans to sell the house in Colorado and buy more rental property in NC.I bought the house in CO in 89.

So a few of us are going to get together on Tuesday, July 18th from 4 pm until 7 pm at Shamrock Brewing Co in downtown Pueblo, CO.

This would allow an easy sale of the Coin Laundry business if you desire and reduce the exposure of the building in a lawsuit.Laundromats typically have 10 year leases so that would provide a good base for the building lender. 

I have been using the term “24 month flip” for so long now, I believe I have coined the phrase.

Oh, don't forget the current tech and crypto bubbles.