Funny sensation.. feels like when I drive fast or feeling 🦋

I also entered the business as a passably good lifelong handyman with some basic house-fixing skills.

I am looking to purchase my second investment property and have done the other basic calculations that BP recommends, but am having difficulty in figuring out how to calculate the Cash on Cash return.

If Its too basic to explain, perhaps a link or something explaining your method. 

I do rely on a bird dog, my property manager, my roofer and my 1st ex wife's second cousin ( only kidding on the last one ) for viewing, drive byes, prowling, and an occasional break in.

@Brian TranSorry, had to extend to 2 posts due to app issues...Anyways I shoot for C2 condition which basically means all major components to the house have been rehabbed in the past year.

I have found that I haven't been able to fully cover the cost of the house based on our VRBO and AirBnB listing of the property, but it has been close so I just figure my usage, which is about once a month, I am basically paying for.Here is how I analyzed what I could afford. 

I don't work in the rental rehab space, only flips.Personally I like to do accent walls, wainscoting, crown/trim work, accent tile, functioning kitchen spaces, wine racks, wine fridges, etc...For a rental I would probably avoid all of this and go with basic, clean and sturdy over fancy and nice looking. 

My driving goal is to cash flow.Based on how hot the market is in the area I am looking at, most houses sell at 95% of list price within 30 days, should I be offering full price and just slowly building cash flowing properties until the market cools off?

I see abandoned homes in neighborhoods when driving by and I’ve tried looking online about how to find the owner and be able to contact them but I have to pay for everything.