Most reputable professionals carry that coverage to protect themselves, and it's certainly an indicator of professionalism.

What to an amateur (first time flipper) seems like a half day change can take several days and may require inspections before closing up.Did you consider your attitude when berating the contractor which you indicate you "had to do".

And when hiring young guys/gals, that's a big indication of whether they'll be able to hit the ground running or whether they'll need a lot of hands-on training to come up to speed.Just my $.02...

As many BPs here have indicated, places in TX, OH, IN, TN are great cashflowing states.

In fact, if it were a CA deal, my spreadsheet indicates a $51k profit, but let's not quibble.You're not specific enough regarding the title "clouds" but you can't close until they've all been cleared and you can get title insurance.

From the look of things, the expenses are 66.4% of the income, on the other hand the purchase price seems to be out of sync - the maintenance costs are high indicating that there must be some thing going on  - Too much for a 20 year old house.

Lower price range usually indicates rental neighborhood (not always), but we usually look for pride of ownership (mostly homeowners with few rentals).2) Sold comps vs For Sale properties - are there enough recent comps for your property?

@Tasha Mckoy here is post I just wrote this morning about the concept of cap rates (and developing them to provide a good indication for your property).

I think DOM is a good indicator when comps are hard to find.

My realtor was going to do all the paperwork and the negotiations.The seller has indicated they want to use their own realtor and title company ( I am not sure why?).