That project ended up exceeding all of our expectations and is detailed more in this forum post.https://www.biggerpockets.com/forums/223/topics/20...Since the start of my first rehab project in March of last year I've purchased, rehabbed, and sold 5 properties (4 SFR's and 1 Condo) that produced a net profit of approximately $146,000.  

I am constantly amazed at the low quality of work that many agents produce.    

he nodded to him pro forma" adjectiveadjective: proforma1. done or produced as a matter of form."

I've developed my analysis sheets and parameters based on all my research, basically looking for minimum of $300/month CF with 20% initial equity after all costs, and below $20k in cash outlay, producing at least 15% ROI.  

They produce alot of homes here in Florida.  

CFD holds by seller(s) and to generate to the Seller no less than 8% interest, given a producing CAP rate of +15%.So the total deal is $900.000kHis question is clear, I think a lot of buyers want a deal like this.Still I am curious because the first calculations look profitable (with the assumption that refinancing at 5% for 20 years is possible).

It enabled us to stop paying rent month after month and build some equity in a building while producing extra cash every month.

Federal tax credits for 20% of eligible project costs (excluding acquisition) are available for income producing buildings. 

As far the fha stuff i don't think owning another piece of property is going to help qualify at all unless it's income producing then it might you would have to ask the broker.

Most cheap contractors can't produce what you are looking for, but they "might" know how to do the job, however, they couldn't generate a material list and give you a price that separates labor and materials.