Glad to see you finally join in on the conversation.  

The house could take about 90 days to be final (Anne Arundel County Court process in Maryland). 

Finally I know that there are some states that require you to go through a real estate agency for closings, whereas others will simply allow you to use a closing agency, saving you money on the process.

There has been an effort by the city to hold homeowners responsible for vacant and abandoned properties, which has resulted in positive changes.

According to my estimates, this would result in a gross profit (cash flow before mortgage payment) of about $65,000 per year, which is just over $5,400 per month.

I personally would make the financial contingency period be based on when you receive final approval or denied - not when the appraisal must be ordered. 

BUT I came across one solid Duplex finally last month, made an offer and am closing on my FIRST deal at the end of the month.I feel that, if I can do it, anybody can.

I have actually, I just feel I would get almost the same results as just wholesaling.

But I'd like to run the numbers in the scenario as I move out after 2 years living there to check the cashflow- Financing: owner occupied conventional loan - Downpayment: 5% - Interest rate: 4% - Loan period: 30 years (fixed) - Vacancy of 5%, Repairs of 5%, Capex of 5%, and PM of 10% - I assume I can get 10% discount based on how long it's been on the market (purchase price of $719,100) - I used Realtor.com from the link and based on purchase price of $719,100 it gives me prop tax of $749- I relied on the listing agent data of $92 per month for home insurance - I relied on the listing agent data of $112.50 per month for water, $112.50 for sewage, $95 for garbage, and $60 for lawn care (assuming the tenants pay for their own electricity and gas) - I left PMI to be 0 since I do not know how to calculate this Result: Based on assumptions and MLS listing, this property cashflow -$1,280.00 (aka, a horrible investment).

Here are my most recent 3 commercial loans, all closed Feb 2018.1. 3/1 hybrid arm 4.19%, 3 years Io, 30 year final, 3-2-1 pre pay, no origination, 62 ltv , non recourse2. 5/1 hybrid arm 4.00% no IO, 30 year final. 4-3-2-1 pre pay, no origination, 70 ltv, recourse3.