I'm doing and owner occupy for now, I want to fix and flip it if I can make decent profit, if not I might just get a roommate so I can save faster to buy another one. once I have two propertys hopefully saving just get easier.

Also figure out what is your cash on cash return($10K+ closing costs) vs. your anual net profit.

I'm taking in terms of rehabbing.. how do you generally figure out if the house is worth buying and know that you will make a good profit?

Which in it self deserving of a small profit.

I had a debt collection company (a single member LLC) that wasn't making enough profit to warrant its continuation.In any case, assuming I had my last house for 2+ years, you're saying that two exclusions within 2 years is possible in some cases?

Does it matter if you split profits 50/50 - I assume no because the equity position is what matters right?

Now according to one article I read here it should go something like this...MPP= 150000 (Sale price) - 10000 (Fixed cost) - 15000 (Desired Profit) - 20000 (Rehab cost) MPP = 73000 So I would want to buy the house for about 73K thats if I would like to make the 15k profit?

That means you have a total of $500 to cover any debt service, or the amount you agree to pay the seller every month, and money for groceries if you don't have a job and want to eat.I might make an offer with my monthly payment being somewhere around $350 per month giving me $150 profit and that would also be the return on any down payment you give.

I still own that multi unit (years later) and it's very profitable to this day ( and have no intention of selling it any time soon).

For what it is worth I did some of my most profitable deals when I did not have access to the multiple list.