The reasoning behind this is that if you've lived int he home for at least 2 of the last 5 years, you can keep the proceeds tax-free.

You still have 10% property management, 10% repairs, 10% capex, taxes, insurance, etc.

, now I'm looking into finding low-cost insurance in the Youngstown/Northeast Ohio area.

Does the $1040 include insurance and taxes?  

What makes you think she will be any better with the taxes the utilities the mortgage or the insurance ?

Maybe you need to set your profit goal higher to insure your misses come in higher.Take pride in finishing your 4th profitable flip.

Taxes are $596/yr and insurance is $450/yr ....... which totals  $87/monthThe house would rent easily for $575/month, but no more than $600/monthI have houses in this area.

Most banks will pay for your closing costs including mortgage tax, title insurance and appraisal.

@Dennis Rootes I also want to add that in Houston you’ll have flooding issues potentially but also in other parts of Texas you get a lot of hail and increased flood damage that makes your insurance more expensive.Just FYI 

View reportHi Guys,I'm looking at this deal and trying to make a decision on whether to proceed or not.