Kenneth McKeown oh perfect!

More update - So I finally approached UW's manager and made a complaint on DTI calculation so late in the process, like 8 weeks after the "credit approval"...Got a long email back from the manager, basically saying their procedure is perfect...Nothing to improve on...

I guess 8% is the magic number :-)I was afraid of passing on a perfectly good deal when using 10%, but I agree - if I could use 10% across the board then I would know it was a home run giving me plenty of room to adjust later. 

I understand that i cant wait for the stars to align and have the perfect 1st property just fall into my lap, eventually I will have to "just do it".

The long term average is always up for those who are willing and able to hold ... they just aren't making any more coastal land with perfect weather year round ... high demand, persistently limited supply.

@Brad GibsonSounds like you covered it perfectly, Well done. 

BUT, let's assume you've found the perfect PM company.

For me, the most challenging part of flipping is getting the final touches perfect, dealing with buyers and getting to the closing table.

I think it is perfectly fine for a basic tax return; however, anyone with self employment or any kind of complication should avoid it unless they have technical knowledge.

@Julian Kinzie, this is a perfect example of a property that can be wholesaled. but there are things that you will need to explain to the owners before hand. and you should also be aware of it too specially having your real estate license..