Purchase price: $115,000 Cash invested: $3,000 Sale price: $155,000 This flip was bought from a wholesaler.

Thanks Brian, perhaps it would make more sense to purchase the house under an LLC (form one now) and seek a SBA loan and payback after sale?

If it is what the seller is paying, it’s an indication of what you might be able to get, but I would not assume it’s what you’ll end up paying.A few things to check when doing due diligence on the insurance.....Cutting back the insurance coverage prior to the sale is a strategy to give assets a higher return.The seller may be able to insure the building for what they paid for it 10 years ago, say $100,000, and now you need to insure $200,000 to satisfy the bank loan.  

I wanted to listed for sale this year, but I started considering an option of possibly renting it out.

I met a gentleman at my church who has been doing wholesaling, rehabbing, short-sales, etc for 15+ years and is also a licensed broker.

Every sale of real estate uses a title company or attorney. 

I have even linked up some wonderful people who will have some more multi family houses that are coming up for sale early 2019.

The property sale price is $450,000.

It was a bank sale and I was in the right place at the right time.

You're no longer an engineer, secretary, or sales guy - if you want to acquire your first deal - tell everyone - "I buy and sell houses".2.