I explain if we buy it for cash, we are gonna turn around and sell it on owner financing for a profit.

Then, twice a year, the manager makes an additional payment, based on the profits in excess of the fixed rate.

These are decently profitable rentals and I have a concern that the city would look to increase property taxes I am looking to reduce based on rental income.

The other's are correct, finding flips in OC THAT CAN MAKE A PROFIT is tough.

Volunteered with habitat, did some gut rehabs with non-profits, Today, I may be doing one this summer, I'll walk through and run my mouth that's about it.

Yes, the opportunity to flip foreclosures can be done at $1000 or less property depending, but the folks I know profiting on that have multiple employees making as many offers per day as possible and playing the numbers game.

There may come a point when the bank is willing to let this thing go at a price that will allow you to perform repairs and still make a profit.

Great that you learned so many things and were able to turn a profit.

If you answered yes to ANY of these questions you need to evaluate further and make sure you have plans B,C,&D in place for how to keep the property profitable.

Meaning, after all expenses, you should see a profit in your pocket each month.