PURCHASE COSTS: Closed on November 21, 2014 Purchase Price ($58,500.00) Closing Costs($1,457.04) Total: -$59,957.04 REHAB COSTS: Labor ($5,600.00) Materials ($4,727.98) Total: -$10,327.98 HOLDING COSTS: Interess Cost ($1,440.00) Lawn Care ($55.00) Other $0.00 Total: -$1,495.00 SELLING COSTS Selling Price  $107,000.00  Commission To Agents ($4,512.50) Seller's Closing Costs ($3,210.00) Total: $99,277.50 Anticipated Flip PROFIT: $27,497.48 Before Pics:After Pics

Let me guess, you've never been in business for yourself before, you read some guru stuff and listened to podcasts, read forums and blogs, haven't read a real estate text book that agents use to pass their exams, you're a creative guy, but don't know business law or real estate law, don't know laws of agency at a state or federal level or what RE agents and brokers must or must not do.I agree with Joseph's suggestion, at least take an agent's course, at the very least get the materials they use to learn real estate.

Construction costs and material costs are cheaper because you are selling a 250k house to a first time buyer, not a 800k house in Poet's Corner.

:) I'm yet to read and watch through a bunch of materials available on this site, but I now confident that everyone here is willing to help!

I have a lot to learn and look forward to networking as well as reading up on all the great material this site has to offer.

As luck would have it, my Architectural practice has specialized in energy efficiency for over 30 years...and I have designed quite a bit using the materials mentioned in the house.  

My question is should I offer the seller more money ($5,000) and say it's for appliances, flooring & other building materials I saw when I did a walk thru? 

There are several things I did to improve this: - Spend a lot of time at Home Depot/Lowes and when you hire someone try to buy the materials.

I now need to locate some good marketing materials for inherit list. 

This includes materials.