Even if you just got back all the funds you put into the property you are still coming out ahead.

Anyone who turn a consistent profit on their first few flips is WAY ahead of the game -- not only are they building a successful foundation for long-term investing, but they're making money doing it.While I would disagree with his decision to do any of the work on the project himself to save money, and while I'm not a fan of flat-fee listings, it sounds like Danny had a good grasp of the numbers on this one, and if it sells where he thinks it will, he'll have a very decent payday.That's more than I can say about my first flip, which earned about $3000 over 3 years of holding (it was an unintended rental for quite a while)...

If he absolutely insists on applying anyway and wasting his $30 application fee, I would go ahead and run the application and use the information you already have about him to reject him.

You gotta be tenacious to get ahead in this life, but its worth it!

I would also spend some time with your agent and go through the properties and get a head of any deferred maintenance by either addressing it or taking note of it.

What good would it do her to lose the sale by giving your agent a heads up so that you could have an accepted purchase offer?

Which gives me the idea that I may be able to even delay the subject-to purchase of House 1 until House 2 is finished, if we decide to go ahead with this.I estimated very conservatively.

If you go down this road, plan ahead otherwise there's going to be plenty of headache and possibly, given that you've got family involved, heartache.

If you stick around, continue to learn the fundamentals and come up with a solid plan, you will be lightyears ahead of your peers (you are already ahead of them just by beginning to think about your financial future).

Then when you try to get license they tell you you cant because of zoning issues, luckily I have written documentation of all my registrations county and state, approval from HOA, tax collections, and application for business license and then written go ahead to rent without a license, so we'll see I might get hoofed in the end but at least I tried to comply with the rules.