PURCHASE COSTS: Purchase Price ($62,000.00) Inspection(s) $400.00 Appraisal(s) $450.00 Survey(s) $0.00 Lender Fees/Costs $0.00 Closing Costs ($5,200.00) Other $0.00 Total: -$66,350.00 REHAB COSTS: Labor (from page 2) ($13,900.00) Materials (from page 2) ($16,380.00) Total: -$30,280.00 HOLDING COSTS: Mortgage Payments $0.00 Property Taxes ($300.00) Insurance ($700.00) Utilities ($900.00) Lawn Care $0.00 Other $0.00 Total: -$1,900.00 SELLING COSTS Selling Price $130,000.00 Commission To Agents ($7,800.00) Buyer Home Warranty ($500.00) Buyer Termite Letter ($50.00) Buyer's Closing Costs $0.00 Seller's Closing Costs $0.00 Total: $121,650.00 PROFIT: $23,120.00 On to my questions:- Other than potentially needing to pay some of the end buyer's closing fees, am I missing anything else that should be accounted for?

These companies need to make a profit too, and so there's just not going to be enough fat left on the bone.

If you could buy it for a steep discount and then get all units legal there should be a great profit there but know the risk, and the path to completion before entering into a deal like this one. 

Should I go ahead and buy the duplex (assuming the seller agrees to a price reduction) or this is way too risky to pursue.

The spread is much less than I'm used to working with but there is still room for around $20k-$30k profit after expenses and rehab. 

. $100 monthly profit per door doesn't allow much room for things to go wrong, and they do.

One week ago I made the decision to leave my W2 job and pursue a position as an independent contractor, full-time investment mortgage broker.

SP = PP + actual cost to date + exit potential profit from flip + closing costs.

I have been building relationships with friends and colleagues by just letting them know of the ambitions with real estate.I am pursuing that education with some vigor, thanks.

Can't you roll your IRA over to a Self-Directed IRA, take money out of there in the amount of your renovation budget, and then be allowed to deposit 100% of the profit of that property sale into that IRA, to be used for your next investment, tax-free/tax-deferred?