I include another month of holding costs in my projections to accommodate extra time needed to close on the pre-sale.  

No offense @Ryan Redenius, but I wouldn't have posted so much info and analysis on BP.

Always remember to do the math analysis and try to look at your prospective properties before you make an offer or at least try to add a clause in the sales contract that would give you the time (about 15 days) to make a detailed inspection and possibly back out of the deal without a penalty that will not hurt you too much.I am 59 years old and I found BP about a year ago and I am still trying to decide what to do.  

Please PM me so I can get a few more details on your project. 

And make sure you withhold some money when the project is complete.

I am wrapping up my flip and was wondering what type of payment documentation I will need for both legal and tax protection.The project involved a GC, electrician, plumber, and granite vendor.Do I need to get waivers from all these guys?

I only ask because I am in the same boat, working a full time job as a construction project manager but wanting to get my license to be able to show myself homes and cut out the sales agent commission.

Then you would just add in the projected amount of utility costs and insurance.

You might as well factor that in and if he pays the rent on time for the next 5 years, then your actuals look better than projected.

To increase kitchen cabinet/counter space on my current project, I'm removing an exterior door.