Financials: Purchase Price $112,500.00 Renovations $140,000.00 Total Investment $252,500.00 As A Flip: ARV $300,000.00 Closing Cost 7% Net Income at Sale $279,000.00 Total Profit $ 26,500 ROI 10% Annualized ROI 13% As A Rental: Rent Income Month $2,300.00 Yearly Rental Revenue $27,600.00 Yearly Expenses (35% Exp.

No extra profit needed.

I broke even though because I bought properties in distress where I needed to raise rent and do repairs before I made a profit.

They are the primary difference between profit and loss for YOU.The PM is just as important as the deal you find, may be more important.

I may be biased since I am located here, but Memphis is definitely a profitable market and you can still find deals at 70% or less below retail.

Also, I would hope they are not CASH ONLY, that just makes me think they are afraid of appraisals.Try looking at:The Best Types of Markets for Profitable Turnkey PropertiesandWhat to Ask When Working With a Turnkey Provider

There is a lot of turnover in contractors that work for HD, because HD really squeezes all the profit out and leaves the contractors with little $ for their effort, so they cut a lot of corners wherever they can in an attempt to actually make some $, and then they quit after a few poorly done projects that nobody except HD benefits from. 

So they get an offer and see the bottom line from opendoor or alike and they see profit they are happy.Now if they were provided a bottom line from and agent at real value without the excessive fees and compared that to an estimate from opendoor etc I think most homeowners would choose to save thousands of dollars vs sell a month and a half sooner.They are in Las Vegas and Henderson now as well.

I know any "profits" from the insurance payout minus repairs are taxable.

I help local and out of state investors purchase and sell profitable properties in the Greater Dayton Area.