I used the BP rental calculator and my cash flow is negative.

Hi everyone,I've just had an offer accepted for a short sale, which doesn't work as rental, but could work as a flip if the numbers are right on the comps.How are comps usually run, do they go on the price per sqft on similar properties in the same neighborhood, or is it usually done on the sale price of very similar homes.I thought it was th later, but when doing comps for this short sale my realtors were going off the price per sqft of homes in the same community.For example they used properties that were around 1200 sqft, with a price per sqft of 105-107, with a sales price of around 125-135k.But my property is over 1400 sqft, they're telling me That the market value is around 155k.

Much like everyone else I follow houses on the usual sites: Zillow, Realtor.com, Trulia etc.

Usually the lending amount is a percentage based on the LTV (Loan to Value) or LTC (Loan to Cost). 

I believe the lone sets are usually (always?)

It happens and it's not something anyone would like to have happen but usually from the lack of funds it does happen. 

Governments don't usually build residential roads.....a developer builds and pays for them, then turns them over to the gov't.

@Jen TeskeI don't know the area so I can't speak about the market you're in, but just by looking at the #s, you're missing a few things: Water, Sewer, Heat, Electric, Gas, Trash, Lawn/Snow removal, Cap Ex, Property Management (even if you're self managing, this needs to be factored in if you want to scale), and although you did include vacancy, if a real vacancy were to occur on a SF you'd have a 100% vacancy, making it negative cashflow since you'd have to cover all the expenses, not knowing when it'll be filled again. 

After trying to reach him all day yesterday (former mortgage contingency date), he finally called me at 7PM with his usual completely unfounded confidence and said that the file should be through U/W by Friday and we’ll close next week.

Now of course being a developer I risk the building plans and other cost Usually 5 to 10k per home. but that's just the cost of doing business and we pretty much hit 99% success. but there are instances were we lose money because permits are not going to be issued.. but again just little hiccup and easily eaten.When I am doing my larger developments.. 20 to 50 lots..