It depends entirely on the value of the end product you are flipping.

Questions: 1) what product did you use to glaze or paint the bathroom wall tile? 

With this method you are getting quality and saving on some labor and product waste.  

There are other loan products around that only require 5-10% deposit (but, higher interest?)

When you do plan to purchase, you will have your FHA loan available again, and could always look to a HELOC on your current property if you wanted a different loan product.

In my opinion, consistent rates of return > 10% on most unlevered products is usually not truly sustainable.Best of luck.

One of their guys saved me on a deal last year where he found a defect in the recorded deed that had to be corrected before closing.

@James Masotti   pref at 8 t o 10  with IRR 20 plus... and if your buying SFR rentals 20 plus IRR over a 5 year hold is almost impossible.I don't see SFR's as a great investment vehicle for larger partnerships UNLESS the operator is buying at court house steps or other Highly distressed RE and they are coming into the product UNDER current market value by a nice chunk...

Zillow is a product to attract real estate agents' marketing dollars, not a replacement for up-to-date real estate market information.  

The end product is Landlord =Loser.