Your own calculations arrive at $800 - $342 before any allowance was made for capital expenditure, so in this case I would expect a 50% expenses estimate over time to be fairly accurate.

If they just arrived, they are easy to relocate.  

Purchase price: $300 Cash invested: $1,620 Sale price: $22,000 This property is a *perfect* example of the system I am currently using:Bought the house at the end of Oct. for $1,920 all in - including taxes & property preservationHouse needed junk removal, had an abandoned MJ grow set up in the basement, and had a HOLE in the ROOF - but I did NONE OF THAT WORK :)After buying, I had to wait ~6 weeks for the deed to arrive (the county processing time) during that time I marketed the property for sale AS IS on FB Marketplace & Craigslist.

@Mazin El-Achkar how did you arrive at $400 as the proposed PI payment?

This would take some pressure off of me financially as my wife will be quitting for a while after the new baby arrives.

I ordered the Long-Distance Real Estate investing book by David Greene but am awaiting it's arrival.

I was getting great calls and leads, but at that price point, if a deal doesn't come quickly enough, an investor could certainly run out of money before success arrives.

We take care of the listing and bookings and all pre-arrival communications.

$50000 is a VERY cheap rehab that's lipstick.Run a Clue report.In your contract choose the title company and opt to cancel when preliminary title report arrives and shows liens.Call your insurance agent to get a quote on a temporary policy.Are you the general contractor or who is?

All legitimate business expenses are deducted from gross revenues to arrive at net income.