Well, I can tell you that just on real estate commission, it will take you 6% of sales price; however, i hear that some real estate agents are willing to negotiate on this.

After attending the city council and planning commission meetings on this topic, I have no illusions about the ease of getting the rezoning.Nevertheless, I do expect to start seeing movement along the main road.

If the turn key operator is managing for free, since you bought from them, what happens when they disappear and you need to hire new management.Most people don't budget for leasing commissions. 

A commissioned sales job.

I know you meant to include it, but for others reading, you need to subtract out rehab cost as well in coming up with MAPP.On selling costs, be sure to include agent commissions, settlement fees (deep prep/transfer/etc.), and factor in the potential for seller concessions (FHA buyers with minimal cash often request 2-3% seller concessions to cover their closing costs, and can ask for up to 6%, per FHA).Don't assume you can necessarily gross up the sales price to recover these concessions, as the property has to appraise out.

If you enjoy wanting to know more about commercial then maybe partner with someone but you might have to give them more of the commission in exchange for helping you learn versus just working with a client you hand off to them.  

I'mA new broker so I intend to put away as much of my commission as possible to contribute to my first deal...

Seller A: Asking price again is $240,000.00MLSAddress                          Most Likely      Best Case         Worst Case                  ARV $399,000,00   $465,000.00        $360,000.0070% ARV          $ 279,300.00   $325,500.00       $ 252,000.00Renovations      $ 120,000.00    $ 95,000.00       $150,000.0070% ARV - Renovations $ 159,300.00 $ 230,500.00 $ 102,000.00                            Most Likely     Best Case    Worst CasePurchase Price $ 169,000.00 $ 125,000.00 $ 190,000.00Renovations           $120,000.00 $95,000.00 $150,000.00Closing Costs          $ 1,400.00  $ 1,200.00    $ 1,500.00Total Cash to Close $ 290,400.00 $ 221,200.00 $ 341,500.00% of CtC Borrowed 0% 0% 0%Cash brought to closing $ 290,400.00 $ 221,200.00 $ 341,500.00Loan Points 0 0 0Points Cost $ - $ - $ -Loan APR 5.50% 5.50% 5.50%# Months Held 9 6 12Loan Cost (Int Only, Paid) $ - $ - $ -Utility Cost/month $ 200.00 $ 175.00 $ 250.00Utility Cost $ 1,800.00 $ 1,050.00 $ 3,000.00Holding Costs $ 1,800.00 $ 1,050.00 $ 3,000.00Total Expenses $ 292,200.00 $ 222,250.00 $ 344,500.00Most Likely Starting Price Lowest Price  Based on Comps and Estimated Sales PriceUnit 1 Sale Price $ 399,000.00 $ 465,000.00 $ 360,000.00Unit 2 Sale Price $ - $ - $ -Unit 3 Sale Price $ - $ - $ -Unit 4 Sale Price $ - $ - $ -Unit 5 Sale Price $ - $ - $ -Unit 6 Sale Price $ - $ - $ -Real Estate Commission $ (23,940.00) $ ( 27,900.00) $ ( 21,600.00)Net Sales Revenue $ 375,060.00 $ 437,100.00 $ 338,400.00                         Best Case            Most Likely                 WorstHigh Price         $ 214,850.00       $144,900.00         $ 92,600.00ROI 97% 50% 27%Most Likely       $ 152,810.00       $ 82,860.00        $30,560.00ROI 69% 28% 9%Low Price           $ 116,150.00      $ 46,200.00       $ ( 6,100.00)ROI 52% 16% -2%Comparable Listings (MLS)

There is another guru out there too, the deal gurus, these guys pump up some strategy with claims of profits, grand deals, simple ways to make money, all you need to do is partner with them, you get their expertise and some assistance for a split in commissions (as a Realtor does) or profits made.

Or, I have a listing agent that I work with, but I will work with any agent as a dual agent (letting them know they get full commissions from their listings).Make sure you know laws of agency and matters of procuring cause of a sale and know how to conduct yourself working with a dual agent, their obligations and responsibilities.