So they're gonna sell for 140k and make at best 5k, not factoring in holding and closing costs. 

In todays environment the risk is no longer mitigated by those rapid equity building factors, the strategy turns investors into gamblers.

I'm aware there are going to be some surprises, but I just want to factor in as many surprises as possible even with the budget, then have a surprise budget on top of that. 

I knew this before I bought it so I factored that into my purchase price. 

Once you take money out, though, or even if you plan to use the HELOC for a down payment, then the lender will factor what your payment to the HELOC will be in determining your DTI.

We now live in a 23 home HOA in Colorado so obviously we are self managed.The outside management companies are always looking to goose their income so they usually drive the subdivision weekly.

Some others could be bank reserves, your reserves, vacany factor, and also concessions/bad debt

And he repaired the asphalt drive. 

All general expenses (marketing, driving, technology etc.) are deductible in 2017.That is assuming you will flip it, as opposed to keep it as a rental.

Hello bigger pockets members,I am looking for a quality skip trace website to locate potential sellers on abandoned properties I find while driving for dollars. any suggestions?