On the flipside, though, how many builders in 05-07 were salivating in markets just like what you're describing, and started major projects at the height of the demand cycle, only to be left with delinquent mortgages and vacant lots (or worse yet, vacant finished projects) when the bottom fell out all at once?

Then his son tackled someone trying to break in the back of the rental late at night once. 

I'm venturing out into flipping houses here in Midland, TX and I am looking for recommendations for good contractors in the area with experience renovating houses, especially good GC's that can manage an entire project.

Longer post on that process once the house projects are finished up. 

Does anyone want to tackle what a logical fallacy this is?

Once this project is complete, I may have a 2 family that will need extensive rehab as well.

He said no sale but that he would like to be an investor in my project.

My first project like this. 

I have done several projects in that past where I take a structured list of addresses and analyze them based on the robust data there.

Annual Expenses are projected for the property by multiplying (1) the actuals for the current year you obtain from the seller and (2) the project rate at which the expenses for the property will change year over year.Property Value can be obtained from your realtor or can calculate it based on the comps for the area.