One must consider price point (if the exit value is under $100k, then the 70% rule needs to be more like 65% or better) and if the exit is say $500k and in a hot market, then rehab flippers could still make money today (key word today) at 80% rule.The price point, the market conditions, the level of rehab, the rehab extent, the individual investors capabilities, the financing, and many other factors all come into play.

Thank you Dan Wallace Jeff Kehl Great insights - given I'm only recently doing some 1099 sales that is growing but not established over 2 yrs, I will see what comes of it...keeping good records and documenting rehab.

A tax lien state you are bidding on properties knowing that the large majority of properties will get redeemed and you will get a small percentage of properties.Most wholesalers buy lists of addresses and send out a mass mailing trying to connect directly with a motivated seller before their property goes to a public auction or gets on MLS.

It was hard paying that much because of listening to other people & reading about them finding extremely discounted properties to rehab, rent, refinance. 

We also plan on partnering with a friend to help with initial investment, cosmetic rehab (we plan to do the work ourselves and are not looking to knock down walls or anything major), splitting property management responsibilities, etc.I am hoping the community can help me out with some questions that I am still trying to tackle.1)  I am struggling with the financing aspect of acquiring a loan with a partnership.  

I am in the midst of a mostly cosmetic rehab but with the addition of a new hvac system.

I have learned the hard way don't give address OOOppps!

At the end of the year if you bank your cash flow you are looking at roughly 5k where as if you refi your cash deal it has potential to be substantially more cash to buy another at a quicker rate assuming all goes well with rehab.

This scenario comes down to numbers and what makes sense but for me I think putting less down to buy works well for keeping cash in your pocket for future investments/ rehab or maintenance.

I am under contract on a VA foreclosure and plan to rehab and put back on the market in 30-45 days.