Typically, as you know, with apartments the seller/broker gives proforma numbers, we as investors say, okay but I need operational numbers.

I would also utilize some of the great tech tools that are out there, especially virtual flyers and vids syndicated through youtube, yahoo, truveo etc.

Is there anyone that has a sample copy of a single member operating agreement for a Florida LLC.

Your risk exposure as a flipper is similar to that of a builder and as such you need to operate through an entity to limit your exposure.

You can draw up a simple operating agreement, even go on the web and find one and amend it if you want.

Much less management problems, lower tenant turnover ratios, lower operating expenses (usually), and the ability to force appreciate.

You missed a BUNCH of the expenses, such as damage done by tenants in excess of the security deposit, advertising, entity maintenance, legal fees, evictions, lawsuits, office supplies, etc, etc, etc.Throughout the United States, operating expenses run 45% to 50% of the gross rents.

I owned and operated a printing company, but outsourced this service as I did not have the equipment for stuffing env.s.

This spring he virtually disappeared for two months and I found out when he got back that he had created a group that bought half of a pacific island and wholesaled about 200 lots, making himself a profit of somewhere between 2-3 million (2 months profits).

How much you need will depend on the circumstances surrounding the particular property you are buying.Once you get the property in operation and stabilized, your reserves will build from the monthly operating expenses.Good Luck,Mike