On the other hand if you purchased wrong your debt repayment and expenses could show no profit. 

They should not use any third parties nor should they assume the property is a Turnkey because the photos on the MLS look good.I would check out:The Best Types of Markets for Profitable Turnkey PropertiesandWhat to Ask When Working With a Turnkey Provider

I am fine eating a few thousand up front to benefit in the long run, but will still need to sell my house for a profit (let's ignore whether or not I can get X dollars above what I paid just 6 months ago).

I've been slowing moving more assets to cash, to be in a better place for when assets are available at more profitable prices - things like turning off dividend reinvestment, and slowing down my accelerating of debt repayment in favor of holding the cash. 

Typically buying them between $10K-$20K which means you would need to pick them up for less than that to make a profit.

Very clearly define the profit split in the GMP contract.

We look for owners who want to sell their land below mkt and we get there first and make a profit buy selling it well priced and quickly.

Therefore, it would not really have been a $20K profit.  

But hired professionals for things like plumbing ($6100), AC/Heating ($15,000), electrical ($2000) and landscaping ($5000) All profit each month is directly applied to the principle.

I just want to have this strait before I start pursuing foreclosures.