Quote from @Addy Chupa: When analyzing deals, I usually include a 5% vacancy factor and 5% repair factor based on annual rent.

Do you know if your PM upcharges on all maintenance repairs?

I would imagine this would be close to a balance sheet.I'm not sure what my CPA would want, but that looked pretty inclusive since I categorized my transactions into their respective categories, ie property management, and repairs.

She bought a condo with lower-than-average dues, but a few months in, the HOA announced a special assessment for roof repairs.

Sellers generously accepted because they know some things need repair.

We offered 30K under asking and got it under contract, after the inspection we were able to renegotiate another 10K off of the property due to repairs needed.

@Randy AchiTo start flipping houses, learn fundamentals through books, podcasts, and online courses, build a network, start small, and practice repairs.

Keep it straightforward at first, but know that experience is the best teacher—mistakes are part of the process and will help you learn.For ARV (After Repair Value), start by running comps (comparable sales) on recently sold properties in the area that are similar in size, style, and condition to your planned rehab.

I have managed these properties from renting to leasing/repairs etc.

Most of the Flippers want to be around 75% of ARV minus repair cost or lower.