We put some money (about 10k) into the renovation of the house and replaced all of the carpet with wood-faced tile as well as replaced the cabinets and counter tops in the kitchen, both bathrooms, and added a small dry bar area.

But you can't take the Kansas farm out of the boy - Dry land wheat and cattle. 

From start to finish it was 10 days (weekend in there) Between initial emergency, drying areas with industrial fans to mudding and sanding.

Really owning the RE is very little skin in the game unless someone was funding operations to get going.  

It lets the wall dry out and keeps water from entering the house.

Its all a learning process, eventually ill develop thicker skin along the way.

I hired some contractors that came to me as a referral and sunk about $100k+ into it which dried up all of the proceeds that I received from the first flip into this new flip.

They do want you to have some skin the game so that's where the 20% down payment comes from.

I was looking for a title company here in Illinois that does dry closings.

The bottom picture is after 24 hours of dry time.