I want to start giving thanks to the whole family of bigger pockets for this fantastic website.To begin I want to introduce myself, my name is Johnny Rodriguez originally from Venezuela but I have lived in the area of Washington DC, Virginia and Maryland for over 18 years.Me and my partner that we are both Hvac Mechanical, we want  to start  fixing and flipping houses in the DMV area (DC, Maryland, Virginia) Any advice is highly appreciated, thank you.

Always be ready to W A L K from the deal if your nemesis is pushing too hard!

What's the square footage of the house?

I just ran some numbers through a couple different calculators (non-BP ones) and it seems that in order to produce a potentially positive cashflow (and even then with a pretty low CoC and Cap Rate) the sale price of the home would have to be closer to $470k w/ a 20-25% downpayment and all expenses would need to be on the minimal side.

.❏ Take a small area, not more than 5 square miles with 10,000 people in the area.❏ Distressed properties are 50% less than retail sales.❏ 60% of properties eventually sell.❏ How much supply in the area.1) number of houses for sale.2) Number of houses sold in past 30 days.3) Divide the current list by the past list.

Specifically, what are the best areas in JC that are close to Bus/Train/Lightrail besides Journal Square?

I can help you with a ballpark amount, What is the Square footage on the building? 

We went to credit union, which typically has better rates than larger banks, and took out a HELOC w/ a variable interest rate of about 3%. 

Here in Lexington School District 1, 29072, zoned for Riverbluff HS, you are going to be getting around 70-80 a square foot.

You should also be allocating based on square footage, in the event one side is bigger than the other.