Then anyone else who wanted to live there could subtract all your profit and flipping costs and bid that much more.This is similar to when people go to an auction and complain about dealers bidding up the prices  the dealer can only stop you from getting a steal, they can’t pay more than an end user as they need to make a profit at a higher price  a flipper pays the least for any property, a landlord pays more, a STR landlord pays more, and an owner occupant pays the most, especially if they can do the work themselves  

And you also subtract closing costs from $600k.

That is why the material list is important because it allows you to easily subtract the material cost from the estimate to calculate labor cost.

So from that I would need to subtract my mortgage, taxes, insurance, property management fees (if I go that route), and maintenance/repair savings.

So then you subtract the "high" mortgage from the sales cost and that's what they'll have to come to the table with.  

Taxes are about $500/year.If I were to bring $20,000 cash to the table and finance the remaining $57,000 around 4%, Mortgage payments would be $275-$300 (approx $50/month/unit).So, if I subtract from the stated Net of $1853, 10% vacancy ($185), Mortgage payments ($300), taxes ($40), and 10% repair budget ($185) I end up with about $1,140/month.So $1140/month x 12 = 13,680.  

Subtracting 34% leaves $1472 in NOI.

Get a conservative ARV from your realtor, multiply that number by 70%, then subtract the estimated cost of rehab your contractor gives you.

In the end I gave them 2.5% down (which was of course subtracted from the principal).

I subtract off the $300 and pretend the rent is $400/mo. for argument's sake.