It is certainly nice to be able to negotiate flexible terms but it seems to me your purchase price plus repairs compared to the ARV is a little tight so I'm not sure the numbers work as a flip.

The two of these sort of deals I'm in had a significant amount of paperwork, comparable to closing on a house, when the money actually changed hands.

A 75/25 split... if profits are 40,000 you get 30,000 your partner gets 10,000.Compare to 20% of 40,000 = 8,000, leaving a balance of 32,000 to split 50/50 or 16,000 for your partner and 16,000+8,000=24,000.. which would you rather have. 24 or 30?

Just from the results, after applying the rule, looks like option A is better, but I don't think you can compare a property that rents for $500 with one that rents for $1500.

The economy here has done very well compared to most other places 5% unemployment rate and while yes the job people want may be hard to get most people still have jobs.

Is there any way to compare prices of homes with and without it in your area?

I have no experience with the software but here are a few forum posts comparing and reviewing it:http://www.biggerpockets.com/forums/79/topics/44375-freedom-soft-anyone-plan-on-purchasing-it-http://www.biggerpockets.com/forums/79/topics/91576-would-like-opinions-on-freedomsoft-program-offeringhttp://www.biggerpockets.com/forums/79/topics/67210-realeflow-open-road-3x-versus-freedomsoft-vs-sims-20http://www.biggerpockets.com/forums/79/topics/83761-my-review-of-investorpro-vs-realeflow-vs-freedomsoft

Jon, thank you for your suggestion.I did check the rentometer, I think websites like zillow and rentometer are getting smarter day after day, however, they still don't have the capability of picking the comparables based on the same school district, which makes their estimate totally off.I don't know if it's a good idea or not...

One unique thing about Detroit compared to other large municipalities is that Michigan's municipal funding system is completely whacked.

But this is a 2000 sqft house built in 40's probably, and comparable analysis shows that this is a fair price.Which price is the fair price?