Whatever I have left over (essentially whatever my paycheck actually IS) is what I have to work with (pay bills, groceries, etc).It's a very powerful strategy and I think he hit the nail on the head. 

We took a pretty big hit on make-ready/repairs after evicting some tenants in the same house, so the expenses are there to offset it.

Most likely, the home will get hit with external obsolescence due to the nearby mobiles as that is not a desirable situation.

@Dustin HopeI had written a fairly lengthy response on the previous thread, but by the time I hit send, the thread had been zapped and my response along with it.Few points that I remember.

The tax people will chime in I'm sure, but there is no way to avoid the tax hit on this flip as I understand it.

Hit the streets in your hometown.

I'm not afraid to get my hands dirty got a background in HVAC, plumbing, carpentry and electrical.

Bill Gulley hit the nail on the head.

Will pass it along as soon as she does - although the news will likely hit here first anyway.... :-) But we might be getting 2 more of these lovely 30 yr fixed loans that we can use.

Get the deal before it hits MLS or the steps to REO. 2014 will be alot of out bound marketing and taking alot of cell phone calls looking for deals.