I'm very disciplined, after numbers are crunched and accurate I make sure there's no less than a 30% return in profit.

@Manuel Perez you have provided a concise and accurate depiction of how a double closing works.

It also asks what the effective date of the most recent paystub is, which makes sense: if we're 3.533 months into the year and the borrower has rec'd $Y in overtime year to date, you could divide $Y by 3.533 months and arrive at a spot on accurate YTD monthly average.

I just don't want to lose a tenant and then start construction and then try and perform the repair while attempting to relist.

I wish you well but I'm not sure the banks policy on 203k draws and non-performance of the scope of work. 

If an investor performs proper due diligence and buys right, the investor knows the total return though exit of the property at the time of acquisition.  

You can use trulia and Zillow...but this is where an agent is really going to be able to help you find more accurate sales information.I would add to Alex's comments you've go to do your own math.  

Make sure your contract states that keeping the earnest money is the other party's sole remedy and not specific performance.

Regarding historical performance every project we have done once stabilized has performed at or above our original projections used to sell them in the beginning.

I will also be a nice guy and get enough of a down payment out of him to cover the cost of the credit repair that I will perform for him so that he can cash me out early, once his repairs are complete.