Most agents take 2-3 years before really learning the job and making a decent living at it.Sit down with an honest agent and ask for the true costs and what you can expect to earn in the first 1-3 years.

Originally posted by @Shmuel Waldman:Although I have no magic crystal ball - On a gut jobDepending on how extensive you are guttingWindows/Electric/HVAC/Plumbing $45 - $65 per SF is a fair GuesstimateThank you, it would be a basic flip gut job property is in bad cosmetic shape and it would be flipped..Thanks for your help!

We’re both in college, and while we both have respectable jobs (by college standards) and strong credit, we’re aware that it’ll be very difficult to find hard money loans in our position.

You did a nice job, congrats!

I know it's the broker's job to sell the property and their pro-forma's aren't to be completely relied upon, but a 50%+ reduction in insurance cost seems pretty high...

I usually pull minor alteration permits if the job allows, so I have less experience with permits with plans, but this is what I budget:   1 month for Arch, 1 month for the city to review. 

Picture of the car preaty well says it all....nut job.

Great job !  

However, you still run the risk of getting so busy with your regular job that you lose sight of the rental and things slip through the cracks or you don't have time to deal with late rent or you forget to do an inspection...A property manger costs about 10% which is $2,400 yearly on a $2,000 rental.

I applied for a Cash Out Refinance with the bank that holds my mortgage.In an effort to actually enjoy my life and spend time with my 1 year old son as he grows up, I left my job at a Fortune 100 company to own a business where I make very similar money working about 6-8 hours/week instead of 60-80.The next step IS real estate investing.