So the book basically turns that way of thinking on it's head.

I would be so grateful, nothing extra just the basic agreement to purchase, escape clause, assigntment of contract, and/or lead paint disclosure.

Jeffrey if your agent doesn't understand the basic mathematical formulas that come with analyzing properties of this type than frankly you might want to look for another broker/agent that does.A local broker that is experienced if they know that 7 caps are asking price and with negotiation you get them to 8 caps and 10 caps do not exist in your area due to buyer demand then that broker/agent will try to reset your expectations, look in a different area where that can be found, or not work with you.To arrive at the TRUE CAP you have to know how to analyze the numbers.

The fee was basically the time for his paralegal to draw up the documents and for him to sign them.

If you wait for a deal (say six months) and then find one that saves you 12K then you basically "made" 2K per month.

Basically she is in breach of the contract agreement.

@Chad McIver You gains are not "capital gains" rather they will be treated as ordinary income, meaning they will be taxed at your marginal tax rate.The tax law basically states that if you purchase an investment with the intent to hold either for cash flow or appreciation, then profits on sale will be treated as capital gains and taxed at the capital gains rate.But since you are flipping a house, you did not intend to hold it, and will therefore be treated as inventory and taxed at your marginal rate.Also, as far as I know, you cannot roll over your gains on a house you did not intend to hold as an investment (i.e. a house you flipped).

He is basically retired ( Psycologist ) He can afford to live but I do now know about qualifying for a HELOC.

You'll also make contacts with new agents that, if nothing else, can get you access to the MLS.You can spend years trying to follow some niche strategy and never learn the basics of RE.

Basically, 25 miles north of Denver (give or take).