I did hear of another rule that said take the ARV x 90% to take out holding costs, then subtract repair costs and the profit you want and use that as max offer price.

My question is, how would we divide the profits? 

Take the lowest comp in the area, - (retail cost repairs) - resonable profit = purchase priceprovide a list of repairs and what those costs are.  

Most employers simply put "Undergraduate Degree Required" in a job description just because it looks good. 

The landlord-tenant relationship is simply not all about bloodless logic and the simple exchange of money for a service or product.

Your profit numbers don't change, right?...

After you look at Zillow/Craigslist, I would recommend running the numbers on the BP Rental Property calculator to see what kind of profit/ROI they would be getting on the property. 

(Sadly, but true, for now).Another potential is to convert the property into a restaurant location and sell it right away with a profit.

I'm not looking to profiteer, but I could see a benefit to moving down and working with a contractor company just to meet the inevitable incoming demand (I have little experience, but want to learn), and I imagine there will be a whole new market of available properties to flip.

I'm 26 years old with a full time job and want to start investing on the side until I grow my portfolio and profIts enough to be able to Invest full time.