(large to me at least).

One that I can recommend for rehabbing is Steve Cooks Rehabing for Big Cash.

That'd essentially put me at break-even, without the property manager's 10% cut and ignoring any vacancies unless you're including that.

And anything I put in out of my own pocket (thru the llc), was paid back to me at sale.

It doesn't seem outrageous to me at all.

If I were to buy a 30k property with cash and was able to rent it at $500/mo that puts me at $500-$250=my income.

per J Scott request, here is an update on my first flip...After getting comps and a more formal quote from a contractor, here are the big numbers:Sale Price: 390kRehab Cost: 126kPurchase Price: 150kThis leaves me at an ARV of about 71%, which is within spitting distance of 70%. ( I personally think the 390k sell price is a bit conservative, but I think staying under 400k is a safe price point.)I currently have 2 private lenders lined up to split the rehab costs 50/50.

Plus $10k on the sewer and then $10k in commission/closing costs when I sell then there isn't really much meat on that bone.

Not enough meat on them bones to stay in the middle of the deal.

Even vultures walk away when there is no meat on the bones!