@Andrew Stringfield how can you project if this will be a cashflowing rental without factoring into your calculations accurate taxes & insurance?

We do as part of our projects when people partner with us or pay a discounted rate

Best wishes project is on hold now because of interest rates and the general investment climate 

@Andrew Postell That's what I was thinking too and was also confused about because of course to make money with a short-term flip I would need to use forced appreciation aka renovations.

My next project will be a new build.

Cut the purchase by 50% off asking, little to no renovation budget & still deals aren't cash flowing if you pull any money out.

In my opinion, flipping is hands on and there is little a book will teach you on flipping a house(especially if you never acquired a property before).The only way to learn is to go through the experience.Start off with a simple project - a property with minimal work that needs to be done(replacing a roof, HVAC, Painting, Flooring).Don't buy anything with water damage, fire damage, foundation, bathroom remodel or a kitchen remodel.Move on to more complicated projects after you have a couple of successful flips.

I love to complete unfinished projects How did you find this deal and how did you negotiate it?

Another consideration is that if we have a major storm event, it is usually much harder to get a single family home back up & running than a condo unit due to differences in construction and difficulty in getting a contractor to focus on your home vs a larger condo association who can attract contractors that regularly provide services for the association or can attract contractors due to the scope of the project. 

A what if fund is just a little insurance fund you keep because “What if” your car breaks down, Get sick, major accident, renovation funds Ect…The money is tax free and since they owe so little if they take out cash and go back into a 30 year fixed it will more than likely be close to the same payment they have now.