However, I couldn't have pulled that off and made a profit if I had paid too much when I bought it.Leave yourself extra "cushion", knowing that you won't be able to sell or rent at market prices, you will have to likely lower your price to do something with it.

Account ClosedNice job.Sure, you may have had cash in it for 220 days - but an extra $20k pre-tax, $15k (37% annualized) after tax is a good thing.

What kind of extra expenses does everyone take into account for the additional units, are there any economies of scale, how do your factors change?

I figure the extra upfront cost is worth a nicer property in a nicer area so I can have nicer tenants, which will hopefully translate into less hassle.

That is an extra layer of crazy in numbers that are too tight anyway.  

I know buying & holding will take awhile to really see wealth but the goal is to secure a duplex or triplex, rent out the extras and live in one unit until I can start fixing & flipping.

Some wholesalers do it, other's don't bother because it's an extra step.

I just need to find that guy with an extra $100k...

Now I just keep doing good work, giving extra to pay forward and working/listening to these great people is mentorship.

So I used that to knock an extra 30k off the price by assuring him he wouldn't have to go through the eviction process and I would handle it on my own dime and that why he should help me with the pricing.