Not a ton of profit as a lump sum, but in terms of return as a percent of money in or value of home, it makes the cut.

You can usually carry this years losses against a later year's profits.

The old rule of thumb is that you want at least 30% equity to give you room for repairs, holding costs, sales costs while still earning a profit.

That way you can benefit from the forward momentum of cash flow to build a larger real estate portfolio.Cheers!  

@Darryl JacksonHow much you need can depend on many factors , the purchase price of the home , the rehab costs etc.Also if you are going to pay all cash or leverage ( hard money or private money loans etc ) If you don’t own your own home I’d suggest doing a live in flip or house hack as you can take advantage of low money down loans like an FHA loan for 3.5%Many people have used this as a way to start out and gain equity that they then use for other deals .It’s possible to do deals without your own money if you do a joint venture type deal but could be hard to find someone to partner without experience, might have to give up more than half the profit but still better than no deal .

That means you would get to take 50% of the profit (up to $500k since you're married) - tax free!! 

For my situation, in my market, my business partner and I do about 5-7 flips per year and target 20-25% profit margin, which we then split 50/50 between ourselves. 

Bosshardt, Watson, etc... tend to have a higher fee and tack on a % to maintenance which always irked me.Exit Realty, Matchmaker tend to have lower fees compared to the larger brokerages and may not tack on a % to the maintenance fee.Gore Rabbell is another one to investigate.If you send me a PM I can give you more candid feedback. 

It's going to be a much larger and more expensive job, maybe 2 or 3 or 4 times the original cost.I strongly believe that he should honour the price his employee told me. 

The larger multifamily deals generally have low cash flow but also rents are appreciating rapidly and lots are rehab value adds.