To successfully perform a flip the house flipping company needs to Spend time & money marketing to distressed sellers to source a deal with a large profit potentialEstimate the ARV of the dealEstimate the repair costs of the dealDetermine if there is enough profit in the deal to make sense for a flipNegotiate a sales price with the owner of the propertyHire the General ContractorManage the renovationEnsure the renovation is completed on time & on budgetMarket & sell the property for the estimated ARV to ensure they hit the estimated profit marginAfter successfully doing all of that why would they then hand over the majority of the profits to you?

If it intimidates you, don't worry, I will attempt to be concise and provide a laymens terms summary.Basic statistics crash course:Obtain as many sample rent data as possible (Zillow works)Define alpha for null hypothesis testing ( 0.05)Run multiple regression analysis (#bed, #bath, sq ft) against active rental list prices.Observe P-values for each metricResult:#Bed - 0.02#Bath - 0.04Sq ft - 0.02All are below or equal to 0.05, reject null hypothesis (statistically significant).Create multiple regression line using coefficients for each metric.Input variables from project property and solve for rent!

No software is good at everything so you have to choose what's important to you:  Is it Data?

Several council members are in favor of putting a cap on the number of allowed STR's (similar to Manitou Springs) but it was put forward by Meghan Herrington and Jill Gaebler that we don't know how many there are until everyone gets registered and then the data will be there. 

@Matt Honeyford I will go a few ways with this but not sure it’ll answer your questions. 1) ALWAYS ensure you have more than one exit strategy for your properties. 2) Consider wholesaling if there’s not a larger spread on your flips (that reiterates my first point). 3) Consider working in other, less competitive markets. 4) If you have great rates and terms on that money you were able to obtain, make private money loans to other investors at higher rates.

A good turnkey company should have solid data to back up those numbers, and they should be happy to talk to you about the specifics, how the numbers are calculated, etc.

Pending sales you have no firm data as to their sales price, or if they will even close.

If so , please give me feedback on topics like accuracy of the data and what do you like the best about it

Whenever you are buying a turnkey property out of state you should do a few things to ensure it's as smooth as possible.

Better neighborhoods often prices blew up past data at 15-20% over is common.