@Travis Cannon Johnathan Greene really hit the nail on the head with his advice.

She’s one of the only ones that nailed the housing crash in the 2000’s.

I wanted to do cost plus so I could see the cost of every last nail and improve my estimating in the future.  

Account Closed hit the nail on the head when he mentioned the idea of economic theory.  

So, for a smaller investor, the numbers may skew;I think you nailed it with the rest of your description.

Problem we have had is that you'll need more saw blades, you nailer will need to be set so high you'll bend the nails when you shoot them (so get a heavier hammer!)

Everyone above has hit the nail on the head and the only other thing I would add that might sound cliche is 'are you passionate about real estate?'

@Chris L that is called hitting the nail on the head!!

That alone keeps out the rinse and repeat types or predatory servicing by an individuals.I agree, servicing should be another matter.Another aspect, seller financing is not really nailed down for MLOs, we see a DTI of 43% now, processing is customary but the extent of subjective underwriting as to ability to repay is really lacking.

So, I think Jay hit the nail square on the head when he wrote, "in the aggressive CA market no reason to sell without cashing out.. so I would suspect the homes you would get would be over-leveraged .. and then selling to someone on a wrap this person has no to little equity..