Hello All,My name is Devonte Calloway. I'm fairly new to Real Estate but I've been committed to learning. I've spent my time attending webinars, meet ups, networking, listening to Bigger Pockets podcasts and reading t...

If you are looking into flipping, I would think a general contractor would be just as important as your realtor as the construction is what makes or breaks your profits in flipping. 

What's is the best strategy for making a profit of this home?

Your business could make profit sharing contributions, however.

Playing the appreciation game can be like gambling, and if your house is really cash flowing well after all of your expenses and your mortgage payment I'm not sure if it makes sense to sell. 

When the investment income exceeds the living expenses, everything else I do (for money) becomes a profitable hobby.

We have been keeping it parked on the sideline however beacause were getting married in August and want to ideally walk away from the wedding without any debt and perhaps profit a few K.

I owned a two family which I rehabbed and which I sold in 2003 and made 200K profit on.

After Repair Value /Comps - Provide comparable sales data that confirms your After Repair ValueRepairs - Provide a detailed estimate/scope of work of the repairs that you are planning for the project.Loan Terms - Provide the financing terms (interest rate, points, holding period) you have budgeted to pay the lenderHolding Period - # of months it will take to rehab & resell the propertyOther Costs - Provide a breakdown of other costs (buying, holding, selling & financing costs) Profit Margin - Highlight the total profit & profit % you have built in the deal.  

If you can, deciding to make this post on BP was very profitable for you.