Simply put, we start off with the As Repaired/Completed Value (ARV), then subtract from that number a reasonable profit, the rehab cost (scope of work), which we've gotten good at, a contingency reserve for any "unexpecteds", our cost of capital/carrying costs (interest and costs of the leverage used), and our costs/fees on the buy and sell sides of a flip.

No management costs as it would be self managed, and estimated property taxes by the average of the past few years.

Also, if you are a minority, WRA has the Partnership for Success program, which helps pay for your start up costs.

Not sure if I can put the link in so left it out.

I learned so much from the course and PCS, and I'm claiming all of my cost on my taxes.

https://www.therealestatecpa.c...sorry for links  :-)Appreciate the response and links.Just curious - were you a former client of Anderson?

The Mexican corporation, generally advised if you buy multiple properties, given the higher costs.

You won't find a deal where you live for free, but if you can live in a great neighborhood at a reduced cost of living that is a nearly risk free way to get started in real estate. 

When I have some free time, I'll research other options that won't cost a fortune for the small guy.

If you get cat urine in the house, it can cost you 10x the pet fee to mitigate the odor.