I looked into the more northern ski towns but they are out of my budget.

The multi-family in my area is out of my budget.

That extra room in my budget could give me a lot more choice as the buying & selling season heats up, and I'd be in a much stronger position as a cash buyer.

The asking price is 30k and i budgeted 40k renovations with 10% extra in case the we go over budget on the renovations. so all in with purchase,closing,renovations and holding cost( 8 months of holding cost calculated)  come in at around $76,820.00 we would be financing the property in all cash me and my brother in law would go 50/50 on all cost and split the profit but have agreed to use the profits to fund another flip if this one  went well. so i am really thinking 150k ARV so selling it at 150k taking away 6% on closing, 6% on agent fee's and 15% capital gains tax leaves me with walking out at closing sale with a check at around $109,500 and minus $76,820 all in purchasing cost should leave a profit at around $32,680.00 which we would recycle in to our second flip. 

Budget about 300 to 400K (loan).Thanks!

I don't know if you can accurately budget for these expenses but I would keep them in mind.

@Ryan Alexander Yes the capex budget will have to be greater since the roof is not brand new.

Have an accurate rehab budget but be prepared to go over in both time and cost, especially at first. 

Arepair budget of $250 per year.

Talk with your local lender.Add in budget for initial repairs.