Is there some expense line you left off or was your net profit actually 18,200?

You are an independent contractor in business to generate your own income with your license under a brokerage in most states.If you really want to be an investor you might want to consider going to work for a large multifamily investment firm where you will be living.

As soon as your go to 1.5x or 2x that type of property, it takes longer to sell and the sales commissions take a bigger portion of your profit on each deal.  

If you are someone with UNLIMITED FUNDS and can generate all of the income you want or need with your own funds, congrats!

I know I can rent it for 2+ times my mortgage but I also stand to make good profit if I sell, which is why I want to have a conversation with the right legal professionals to help make a good decision. 

The outlook is very bleak in terms of properties that would generate a positive cash flow. 

This is a blood, sweat, tears, and toil kind of thing to learn how to profitably renovate an old MF building with tons of deferred maintenance issues and turn it into a tight little ship that puts a lot of money in your pocket.

What is a developer's typical profit margin?

With everything we've learned I feel that our next property can be profitable.

Booking those profits and placing them out of state.