A few appliance repairs or non-payment of rent will eat that away.

PM could do the same, but they can eat up your cash flow.

So, if my actual cleaning rate is $385 and I list it as $300 (and eat the difference), is this a potential tax problem down the road?

Do you know that Flips take at least six months to fix up and sell and you are lucky to break even if anything delays the process as you have Monthly Costs that eat into any profit.

As others mentioned, there is the cost to sell which can really eat into your equity as all those costs come from your equity but are usually based on the whole value of the property.  

If you own commercial real estate property, you are probably well aware of how much property taxes can eat into your profits.

The unfortunate truth about cheap properties is that a hot water heater and a roof still cost about the same as a proprety in a more expensive areas so your repairs/vacancy/capex is going to eat up a larger % of the gross rent than a more expensive property even though the $ might be similar.

Unless you’re doing this at scale, a gc is going to eat up 20-25% of your profit, aka 10-15k… no thanks.

You are asking if you can have your cake and eat it to.

IMO this is because of government fiscal policy, ie spending.Bad Government Fiscal Policy is Driving InflationDeficit spending is a snake eating its tail: deficit spending → more inflation → higher interest rates to slow inflation = more inflation = keep interest rates higher → debt more expensive / accelerates…..repeat.The US debt has is currently rising by $1 trillion every 100 days, or roughly the budget of our entire defense budget (which is larger than the next 10 countries combined).