I know exactly how much it should cost to hire a contractor, for any type of work on a house.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

All money spend after the sale of the property should be posted to Profit & Loss.And yes on the day of the sale you transfer the pruchase price, loan cost, settlement cost, imporvements to Profit & Loss. 

you're still "investing" in it with the down payment, closing costs, setup... so that's capital that could be used for something else. 

We will need to know the PP, and Rehab cost.

You'll also need to learn about marketing, property values, repair costs, property management, etc. 

Cost is $150 and up for each report. 

FYI We looked at purchasing one that was operating already with a lease and I was really surprised how hostile banks were to the concept--they viewed it as a risky and potentially reputation damaging business.

The reason for the 85-90% requisite is because I have to add the price of a vacant lot to the 2nd property's build cost.

On paper the idea seems perfect, but here are some potential issues.