err this guy wants his cake and eat it too.... it seems all he will be doing is GC.... which unless he is the best contractor ever, doesnt mean much... i mean you even said he is slow to work sometimes. which is not good at all.tell him is he is serious he should put his own money in, if he cant, then have him bring you deals. if he can bring you good deals than use your cash to finance the deal, pay for materials only and when the house sells give him 30% after splitting all the rehab costs with him. i havent done my first deal yet. but i have been burned in the past with partners with no equity. my suggestion is to stay away, unless he does truly bring you some good deals. then work with him. he needs you to fund the deal as much as you need him to get the house ready.

Those can greatly eat into your cash flow.

You'll have to sacrifice risk or profit... can't have your cake and eat it too.

After that the holding costs start eating away..There is just sooo many little expenditures that go into flipping...

I didn't want the seller to have to eat it, because they were basically giving their house away anyway, and they have a few more for me to sell, so I didn't want to taint the relationship with a bad transaction.

Not that it matters, no agent is going to take a property off the market without you signing a contract and presumably providing some amount of earnest money.It sounds to me like you're trying to "have your cake and eat it to."

It would have to be an incredible deal for the payments not to eat up all your cash flow.

Just give 30 day notice and eat the utilities and move on.

Chasing yield to make the magical 50% rule estimate of expenses work on a pro forma basis can eat your lunch if you aren't careful!

The place will be sold by the time I go to buy another property adn the rest of them cash flow very well. ( by bank standards one makes 1480 after rent8.75-PITI, another about 800 after the same, I know that's not the real cashflow but for qualifying it will be bonus to my DTI) should I not show the loss on my taxes and just eat it (since I don't want to risk not getting a loan if it hurts my DTI) or will it not matter to the bank since it is sold and was sitting empty since I am looking for a retail OO buyer.