There was no need to get an incredible deal that had to fit under 75% or even 80% ARV through this DFE all-cash purchase method, yet you can refinance all of your initial cash back, and then some.

After our initial interview we would happily go our separate ways.

If you're doing a bunch of flips, the income you generate will be taxed as ordinary at your marginal rate (unless done out of a c-corp). 

Zillow has always been one of those "too good to be true" for me in terms of lead generation because if it were that easy, why are over 90% of agents still failing within 1-2 years of starting?

I just recently flipped two raw land parcels in 2 different states and realized a really great return on both after some initial land improvement investments.

Looking back, I did not account for capex, PM etc in my initial numbers and overpaid for the property.

We even followed the listing broker's price guidance where it made sense, even came close (within $100K on a $22 million property) but it seems sellers have been unrealistic and in some cases want more than when they initially list the property.Brokers call something "off market" when all it means is that they have not blasted it to everyone they know.

We initially estimated closing costs to be about $3000, but our lender came back with their initial estimate at double that, $6000.

Cap rates can be used for an estimate for selling the property when you get out of a deal, but if you truly want to know what your yield is you need to base it off of your internal rate of return (ie the interest rate your equity investment is paying you)Cap rate I use it as an initial “go/no-go” on a property but I would not buy a property based just off a cap rate

Seller initially listed the property for $243k, reduced to $238k; which is when we made our initial offer ($223k).