With this I think I would only get 6.6% return on my $80k.

If the above numbers are correct then my return on the down payment/closing costs is still pretty good. 

Even in the absence of a 1099, you are required to report all income on your tax returns. 

Tell everyone you know what you do and how you can help them achieve good returns secured by real estate.

It sounds like you have undercut the sellers expected sales return from $180k to $150k.

For example, we learned we had too few returns and could get significantly better performance by closing some supplies and adding some returns.  

My predicament comes from the situation of living in one of if not the most overpriced real estate markets in the world right now.My goal in joining this forum and building relationships with the people on this site is to navigate this difficult real estate market in order to advance my financial situation to better the life of my family.I understand allot to starting in this game is taking action and not sitting back on the fence but I find myself in an area that doesn't allow for an ideal return on equity as far as real estate investing for flipping/renting for positive cashflow.I look forward to having productive conversations with the fine people here on biggerpockets forum in hopes of helping other people succeed while succeeding myself in the ever changing world of real estate.Cheers,Matt Bouwman

When he returned, the entire wall was gone.)As I do rehabs for clients this has been an educational process...

One of the questions I've struggled to provide an answer for is how I will guarantee their return on investment.

However, if it's something simple with just a kitchen, bathrooms, floors, and paint then you could easily use a "handyman" type contractor.