my wife and I are planing to flip a house and we are having a disagreement about the layout. 

@Anje Walfoort  I fly all over the country so I am not one who watch's my device on the plane its my reading time.. 

From the original locals who can't understand why a house would cost more than 100K to the Vancouver commuters and more recently, the increased Asian interest.For myself, I enjoy it as a Vancouver Suburb - downtown vancouver is only 15 minutes away on a float plane but there's no traffic and the R.E prices are 2/3's lower.Aurther - I'm not sure if you've got a plan of any kind set out but I agree with the other folks you'll probably need to build or grow into that sort of generation off of the 100K. 

But if I lived there I would have my own plane with me.. so I would fly all over the East for fun and business. 

I think I'd pull the trigger on this property too.In my opinion you've got enough slop in the cash flow to justify the purchase even if you're repair numbers aren't exact.A couple pieces of food for your frontal cortex:-Have you verified it's not in a flood plane?  

Plane tickets, hotels, car rentals, food, etc. all add up.

We bought every house with the idea that it would have the exit plane of being a rental.

Rohan ,I don't  think it matters a lot if the property is located near you if you are planing to have property management in place.

There are some really AWFUL parts of Indiana, too.It is worth a $250 plane ticket to check out the area before you buy properties. 

Unless you are planing to move often, you may not get many more 30yr notes for rentals. $430 cash coming in a month is more than I require for a rental for me.