You might have a home that literally takes one dividing wall of 2x4s and a kitchenette, or you might have a home that you need to add exterior doors, breaker panels, relocating utilities, etc.

Include expenses like utilities, HOA fees, and reserves

I think it would be a disservice to all of the consumers who utilize BiggerPockets to learn and network with professionals and service providers to not have this new information given to them.Bob Prisco (aka Bob Stevens) actually utilized a 2nd BiggerPockets profile from 2018 to 2020. 

Proposed property were paying 60 grand to unit utilities are paid by landlord  I’m hoping in a year this will net me $6000 a monthWas using voice to text sorry if there’s any grammatical errors. 

I did this 10 years ago and pursued a heavy renovation with contractor/tenant.

Many people saved a lot on taxes utilizing those vehicles versus a Defined Contribution Plan like a 401(k).  

I have $100k in cash to utilize to buy a long term rental property.

Like others have said, 40k rehab budget on a property worth 55k would be considered heavy rehab.

When funding is plentiful and flips are rare, the competition will be heavy and experienced flippers with teams will take smaller returns just to keep their guys working, which means inexperienced 1-man crews will be shut out of the market.

Does the 60% the condo-hotel takes include the HOA fees or utilities or replacement of furniture/repairs to the unit like plumbing or stuff like towels and sheets etc?