Set aside extra contingency money to cover the unforeseen2.

However, I still expect average occupancy rate of 80 - 90% is very much possible.On average as an investor, I would expect to earn between 8 - 12% ROI, if you are doing everything right.All the best!

Wanted to reach out to the Central Florida BP community and see if anyone could use an extra set of hands on one of their rehab projects.

If you have a closet that's all you need and you should definitely close the wall off so it could actually be used as a bedroom.  10'x10' is very common bedroom size in Chicago, although its not ideal it can easily fit a full soze bed with extra room.  

The next door neighbors (it's a multi-family unit) are also very nosy and in close proximity.The comp down the street sold at around what we are asking, but it took 90 days or so.I calculated the cost of money, utilities, taxes, etc, plus the loss of potential earnings on not recouping the money, at around $4K a month.

Once you are in a position to move on to the next property, rent out the unit you are vacating and hold on to it for extra income.And do yourself a favor, use a VA guru lender that knows their stuff, not the call centers (USAA, NFCU, and VU. 

The end game is what's in question here.I'm thinking we take a flat cut off our earnings, but the majority goes back into the business

But if the upside is an extra 30k in NOI, I'm not willing to pay for 80% of that, leaving myself with only 20% for me to profit on.

That extra push for motivation. 

We have a long term goal of earning enough passively to eventually retire and being able to live comfortably on that income.