I installed code door locks for front door and room door.

So your purchase price plus closing costs are what you subtract from your selling costs to find gross profit. 3, dont forget selling costs... realtor fees and closing costs will be roughly 10% of the selling price at this price point.

If it takes you more then X time to turn and rent a unit then you should waive Y amount of leasing fee. 

Down the line if you're interested in becoming a licensed agent it would be beneficial as you get access to the MLS and no longer will have to pay the agent the fee. 

From what I have read, banks would not loan to new LLC's without proof of income.Furthermore, I have inquired for a lawyer's assistance with LLC formation and he quoted me $2000 to $2,500 for professional fees.  

If it does not generate a profit you don't install coin ops.

Setting aside 500 for property management and repair fees I came up with a offer of 135000 that will let me cash flow 400.

Thus...usually for our flips, Demo starts fist... so we'll pay in this manner:DEMO BUDGET: $6000- to start: 33%: $2k- progress payment: 33%: $2k- complete: 33%: $2kFLOOR INSTALL: $8000- to start: $2600- progress: 2600- complete: 2800this way you eliminate any grey areas, and usually contractors save so much for the end, and if you pay against the total, the budget will go through the roof!

I just had newly installed closet shelves collapse on my tenants thanks to a poor contractor decision.

Now, they give me class training, field training, software access (monthly fees) and access to mentors.