If I have an ARV of 249k using the 70% rule places me at about 174k... minus my commission, also the closing costs.

Fees should be clearly stated, easy to understand, and justifiable.

I keep thinking that I have been taking to much out for expenses.What is everyone's thoughts on using the 50% RULE????

That's a pretty good number and easily exceeds the so called 1% rule. 

So he's got rules.

I prefer to believe that the responses were meant to be blunt rather than meant to be hurtful.Rules of thumb have so many exceptions that they typically do not make very good rules but ...There is a 75% rule that is generically what investors desire to pay in total of the ARV price. 

Keep an eye on your property, protect your investments, train your tenants and in my opinion rule number one remember to have a spine.

Call it karma or the golden rule or however you want to lay it out there, real estate works for the folks who treat people the right way, folks who are genuine... sure they miss a deal to the person who beats them from time to time, but their conduct, acumen, character always performs in the long run, provides staying power.#4- THANK YOU to these folks for all they do...

If you 'go to sell in 2-4 years', and live there now, then you will meet the rule.

I do have a great CPA in the State of Texas who filed my Taxes, but he advised to look for a local tax expert who better understands the complex California Tax rules and regulations.