Do I need to adjust my expectations of what kind of profit I want for the risk, or am I just way overestimating my costs?

Run a couple scenarios, and if knocking down the house and rebuilding is the most profitable (with an acceptable level of risk), go for it.As for knocking it down yourself, if you have to ask, you probably shouldn't

Don't we lose profit when we keep refinancing to the bank fees?

Found him through a Wheelbarrow profits multifamily podcast he was talking about all the things you are questioning.

you more so need to be willing to put money into what many consider high priced properties to generate high rent and make a return worth while. 

If you live in a property you own for two out of the 5 years prior to sale you can take the first $250K ($500K if married) in profit tax free. 

., number of units and high price listings) can be taken down but what I'm wondering is how profitable is this once everyone takes their share? 

I just migrated to Rentec Direct as I pretty much had enough of “free”.... 5 business days for payment, no real management features (such as COMPLETE capture of info from prospects to tenants to auto lease generation (using DocuSign’s engine).

Scott shall not be considered active under the following circumstances: unemployed while seeking gainful employment, on disability from full time employment, retired from government employment, or other circumstances out of control and atypical to choosing to pursue his housing business endeavors as his sole source of primary income. 1.Should Scott choose to “actively” engage in housing as his source of employment as defined above, Scott agrees to give 25% (twenty five percent) of his net profits accrued from his active efforts during the period of marriage to wife in the case of a divorce.2.Payment of such percentage of funds shall be payable over 120 equal monthly payments, or equivalent to no greater than 10% of Scott’s New York State Adjusted Gross Income, verified annually with payments adjusted the 1st of November each year, whichever is less, to ensure no undue hardship to Scott or the business will be endured.

Or should i just flip it for a potential $30,000 profit?