I would be surprised if the midwest is up to $150/sf unless you are near some select large cities.

Jose,Here is a list of "hidden costs" that may surprise you if you haven't been through this before:Closing costs when you purchase the propertyTitle Insurance Policies for you (and the lender if there is one)Miscellaneous closing fee's (survey, recording, etc)Loan origination feesHolding costs (during the time that you own the property)Builders risk and Liability insurance policy premiumsProperty taxesHOA feesUtility usage chargesBuilding permit costsDumpster / hauling chargesLoan interestClosing costs when you sell the propertyStaging (if applicable)Realtors feeClosing costs (depending on where the property is, this could be a huge cost) Professional fees for accounting, legal and taxesCapital gains tax on your profitI hope this helps you, and good luck!

@Rick Lucette Have the one that's leaving sign the release form and sign a new lease with the spouse that is staying. 

My tenant buyers will stay with them to obtain their mortgages at closing so the mortgage broker makes his money then.

You'll make mistakes and have surprises, but hopefully you'll not get burned.

I would be very surprised if there wasn't such a statement/disclaimer in big bold type in the property information packet.You can't renegotiate a winning bid.

Stay conservative to keep you from getting into hot water down the road.

If you don't get a warm fuzzy feeling while you're in the area stay away from it. 

Continue to educate yourself, stay committed, network2.

I’m a new investor in Tucson, AZ wanting to get into the flipping business to raise capital with the long term goal of investing into multi-family.Does anyone have any experience or recommendations in how to properly incentivize contractors to stay on schedule and meet cost targets?