Seems to me the short term capital gains tax would eat up a large portion of your profits.

If you are wanting to produce an income your family can live on I would suggest having more rental cash-flow than monthly expenses to gain true financial freedom.

On the other hand, it's a big house and quite valuable, and it wouldn't take much to do $4000 worth of damage to the house.

A tub drain assembly is $15-20 and hoses are $5-10 x 2.Consider this a valuable lesson to meet contractors at the property and get multiple estimates to ensure you are getting a fair price.

You could potentially end up paying a massive 40% of your profits because of capital net gains.

You'll gain more credibilty that way making volume of selling 2-3 houses a month and making 3K per deal.

You can gain knowledge.

I will take the larger % gain, in a stable market, over the smaller gain in the 'high dollar' market.

Do you mind sharing which books on wholesaling you've read that have been most valuable?

I work probate and vacant properties but my question is, how are you gaining access to these other ones?