Purchase price: $186,000 Cash invested: $100,000 Sale price: $515,000 This house was in BAD shape, bank owned, and no bank would loan on it because the well and septic were shot.

If there are that many good deals in the same area, usually implies area is very bad for investment. 

The practical issue comes to who the bank can recover from after things go bad and personal guarantees help the bank to solve that.So, for example, you can open an LLC or whatever business vehicle, but practically, banks aren't going to loan you unlimited money since a fresh company probably has no business history/assets.

I'm not looking for the best area in town, but I'm also against investing in a bad area with lots of crimes.

I will never trade in quality for lower costs.

Originally posted by @Shmuel Waldman:Although I have no magic crystal ball - On a gut jobDepending on how extensive you are guttingWindows/Electric/HVAC/Plumbing $45 - $65 per SF is a fair GuesstimateThank you, it would be a basic flip gut job property is in bad cosmetic shape and it would be flipped..Thanks for your help!

I own several properties in Texas where I get a 3% discount for paying by October 31st.  1% per month is not a bad return on investment

One lesson I have learned over the years is that some types of debt are not bad, as long as you are earning a reasonable amount of cash flow.

I've only ever had my handyman redo one bathroom and it was in dire need - it was just bad.

I'm not planning on buying a forclosure or something in bad shape.