That’s a small fraction of what all that would cost in my market.

I already have some equity in the property after doing a complete rehab but I don't want to diminish my returns selling it after one year, paying for commissions/closing costs.

Those holding cost will certainly add up over time and kill any cash flow.

Not only would you effectively be giving up your right to proceed by way of non-judicial foreclosure, a very messy judicial foreclosure sale might not succeed and even if it did, ability to pass title would thereafter likely be subject to borrower's statutory redemption rights.

cost of doing the deal. 

I own a 30-unit community and found it much easier and more cost effective than the 1-4 family and flips that I was doing before that acquisition. 

I work primarily with buyers and sellers of personal use property and looking for some creative approaches to make the purchasing a home more pallet-able given the higher cost of EVERYTHING.

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

Thank you for breaking down the cost for me.

So about 8 houses per year will do ya....but don't forget your costs of doing business AKA overhead....Very good point!