I don't like this business plan, you go into business with low capital, take all the upside and leave the landlord with all the downside of pissing off neighbors and high wear and tear.

The mortgages add up to $4131 leaving me a profit not including expenses of $3119 a month split 50/50.

I am newly self employed after leaving my w-2 job and benefits to flip houses and dive into multi family.

@Nathan G.I leave Houston for the summer months and stay in either NYC, San Diego, or Denver.

Don’t know if I should add on to the house or what to build.Or build another unit on the property, Or even if I should just leave it alone.I recently put tenets in it.

@Bruno do you leave in the area or have you drove it at night?

However, I think you may need to drop your cut to 7,500 or even 5,000 to leave your end buyer more meat on the bone to work with given the low ARV.

You can't change the location, it sounds like you don't want to change the price -- so that leaves condition. 

But you would only want to do this if you stand to make money on the deal, which you could if the arrears, monthly mortgage and expenses are low enough that you could rent it out and cash flow nicely, or if there is a little bit of equity, say 5% to 10% where you could rent-to-own it or possibly sell it leaving the original mortgage in place and using a residential mortgage loan originator (RMLO). 

When they leave, you will need to re-rent at market price (which may be lower if the supply has recovered).I would not feel guilty charging a fair price to market in this situation.