Once you have an honest assessment of these expenses you can get an accurate profit and loss projection. 

By the water is always more desirable but wanted to avoid losing my profits to potentially higher premiums. 

Another protip: If you are in a competitive market, deals are harder to find however if you do find a deal, someone will be much more likely to split the profits and show you the ropes if you make a friend in the industry.

But profit is profit.

Even with all the fluff added, and the conservative ARV, I'd be looking at about 30k profit.. that's including accounting for holding cost for up to 4 months..What do you think??

Partner invests 20% of total cost so that deal is 100% funded.You do all the work for the deal and split the profits 50/50.

My goal is fix and flip my way to use the profits to buy and hold Multi Family.

my question is, if I own a $20million dollar mansion, what other imvesting strategies can I utilize to gain more profit?

I have been pursuing the BRRRR strategy almost two years now. 

Should I sell this property for $19k and profit $5,000?