An appraisal is the only thing you should ever pay for before you close the loan.4) After the appraisal comes back you will get a document that outlines the amount to be borrowed and all fees that will be relating to the loan (I would suggest to ask for an example of this document when you are searching for an HML so you will know what fees are going to show up).5) Close the loan with title company, typically chosen by the seller 6) Begin work and make draws on any repair balance.

It would be extremely subjective because not all property managers charge 10%.  

@Michael Cabaña Perhaps you can consider Seller Financing or Subject 2, though I would suggest doing more research on it before jumping straight in.

Works fairly similarly to the FHA 203k, but the subject property doesn't have to be your primary residence. 

Where is the subject property located?

S corps allow self employment tax savings by allowing you to take a reasonable salary, and then the remainder of the income isn't subject to self employment tax. 

How many days have you owned subject?

Do not compare the subject to what you make on the next investment - the numbers are unrelated and not relevant. 

Sign up for keyword alerts for subjects you are interested in (ex: Pennsylvania, Newbie, rental, STR)2.

You hear them because they are outliners.