It is tempting to think of exotic locations when it is all a future goal.

@Alvin SylvainI'm a new investor and only have one rental but for my future purchases I'm looking for at least 10% cash on cash return.

I was unaware of this terminology but am glad you shared it so I am a little better prepared for future discussions.

You may also offer to these people a free access to your future tool. 

These aren't issues that are specific to flipping and should be a primary focus for any real estate investment - The bottom line is that you made a profit despite the challenges you faced - and congratulations for that - but it seems to the bystander that you gambled with another investor's money while investing very little of your own - you put yourself in the position of a teacher or mentor when in fact you are not extremely experienced in the business of flipping - consider how you would feel if you lost a portion of your partner's investment....Today I am closing on the purchase of my 15th flip for the year, and I wouldn't dream of taking on an investment partner who wasn't equally experienced and had an equal say in the decision process.Good Luck with your future projects and Happy Investingjeff 

I have been doing a very slow crawl (while I clean up past financial mistakes & save cash for future successes) to get into the investment side, but have been working to gather some priceless experience along the way.We purchased our first home in 2005 and that became our very first rental in 2009!

At some point in the future you *might* own it.

To address the fee %, I later read the 6% recommend after posting, so I will ensure that for the future.

Most people are good people, I'll remember that when dealing with my tenants in the future. 

I like how his analysis of demographic trends point to sustained/increased demand for multi-family and rental properties in the future.