.: I am trying to learn and understand... someone told me that its not just size of the home or level of the flip that determines profit, and that in some markets, what is considered a typical profit is 300k based on the 70% ARV formula.

Rich Young, Loughlin, Crest, etc.Commercial brokers typically do not charge fees for tenant/buyer representation but find a way to take their fees out of the deal.

Also, consider this copy & paste advice below:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

From what I've seen, typically two people doing a flip like this have different skillset so one person is doing different things than the other.

I typically will book tax entries as an accrual so that they don't affect the operational accounting.My reports do not tie exactly to my tax return as there are temporary and permanent differences between tax books and accounting books.

They usually sell for a really attractive price because investment property financing is (obviously) difficult, somewhat limiting the buyer pool to owner-operator small business owners (who in turn are typically great clients, as well).  

How attorney fees typically work in these cases (e.g., hourly, contingency, flat fee)?

While someone buying it with a tenant is typically looking solely at the ROI numbers.Also, find an agent experienced in selling occupied rentals!

In fact, a couple of recent studies have shown that working with a broker typically saves about $10,000 on a residential mortgage.

Do you typically have a separate bank account for each property or do you have one main operating bank account?