The $20k figure includes the financing to buy it then to sell it again including capital gains taxes and fixing a couple small things that led to be fixed.

I already had a background in fixing up places, but I really didn't start diving deep into renovation until after we had the first property.I know it's terrifying.

I've spent most of my adult life fixing things and its what I enjoy doing and want to help someone else out in their real estate journey as well!  

Some specialize in quick fix and flips. 

We thought that rents could be raised as well, but also thought the asking price was decentIt our situation, we paid full asking price, but also asked for $20,000 at closing to fix various issues and have some in reserve in case things went bad quicker than we thought. 

I got a stop work order once cause I fix a portion of a fence that was falling down, fought the stop work order, but what a pain in the you know what.

The other is once he has the job locked down, he doesn't really have an incentive to fix it fast since there is no real reward at the end of it while you have to cover the carrying costs. 

I’m new in South Florida and I would like start my own fix/flip business.

My first choice is to always go with a fixed rate of return...so say  10% on their money. 

Are you looking to fix and flip or fix and rent?