Everything you posted is correct except your definition of “profit” unless you only paid $140k.

One bad tenant can ( and have) quickly destroyed a year+ worth of profit.

And from there, the magic is in how you leverage, that's the profit center.

Sold at a profit in a bidding war.Lessons learned?

A tidy profit, plus confidence to tackle the next project solo.On the topic of self-directed IRAs: While they’re fantastic for gaining experience and diversifying into real estate over time, they can feel restrictive if your main goal is scaling quickly.Here’s what I’d focus on:Using Equity Wisely: A HELOC or cash-out refinance could unlock funds to pursue a flip or duplex without touching your 401(k).Partnering Smartly: Your realtor friend sounds like a great resource.

Let's see: You sell one property, and to avoid paying cap gains tax, you then reinvest those profits within 45 days into a larger "like kind" property.

Ensure your flip profits exceed the LOC costs, maintain a financial buffer, and compare it to private or hard money loans.

They refuse to give investors the information they ask for such as who is the loan through, what kind of state it is in, and who are the GPs, LPs, profit and loss statements.

It's complicated and not recommended for newer/smaller landlords, but it's a profit center for me.

In short, don't cut corners and it will profit you later.