Hello, my friends, I am using QuickBooks, maybe you know other programs that are better or more functional. Thank you for your replies!

Assess the ways in which rental income might enhance your current sources of income and advance the date of your total financial freedom.Think about the possible returns on your investment in comparison to other investing approaches.Market Conditions: Look into the local and other possible investment real estate markets.

While it is more expensive than the Midwest there are all the signs of strong appreciation. 

It's hard to get an accurate ROI the way you are asking as you lived there so you have paid the mortgage on it for a number of years which will skew the numbers...At this point look at the cash flow and base the cash on cash return off of your down payment and current monthly expenses..OR, look at it another way, how many years or renting it will it take to get your initial down payment back?

Opening walls gets expensive. 

A thousand things can derail a flip - changing market, underestimate expenses or overestimating income, mistakes, errors, contractor issues, permitting issues, just to name a few. 

I could easily find the expenses to bring my tax liability for the income from building it down close to zero. 

People often ask me how they should determine their operating expenses. 

That GRI does include income for cleaning, taxes etc. though normally, which is really pass through expenses for the most part.

Thank you.Hey Celestin, I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.