The asking price is 30k and i budgeted 40k renovations with 10% extra in case the we go over budget on the renovations. so all in with purchase,closing,renovations and holding cost( 8 months of holding cost calculated)  come in at around $76,820.00 we would be financing the property in all cash me and my brother in law would go 50/50 on all cost and split the profit but have agreed to use the profits to fund another flip if this one  went well. so i am really thinking 150k ARV so selling it at 150k taking away 6% on closing, 6% on agent fee's and 15% capital gains tax leaves me with walking out at closing sale with a check at around $109,500 and minus $76,820 all in purchasing cost should leave a profit at around $32,680.00 which we would recycle in to our second flip. 

There’s a couple key differences but knowing how and when to use either one is an extra powerful tool in your tool belt. 

What I recommend for young professionals is to get a large house (4+ bedrooms) that you can rent out extra rooms (house hack) to have others pay the debt down.

Little more overall work and some extra debris to get rid of but it would be done just as fast and with no doubts.

I'll let you answer it through a series of questions:1 - How are you paying for that extra $5k?...

My husbands w2 isn’t as strong as it was a year ago, lots of factors with the business that are thankfully just growing pains, but we’ve decided to start flipping to get extra cash in hand to scale more quickly, and eventually allow my husband to leave his w2 job.

@Randolph Brown it might lower the cashflow because of high mortgage but you will have have extra cash to invest in other property.

Not only was he over on our contracted timeline (which include penalties) but he left me with a TON or extra work, double payments and extra expenses that I was not aware of.I want to recoup my extra expenses, lost rent and penalties and am not sure what steps are next to reporting this guy.Where are the best places to report him, other than his bonds, State Licences Board, BBB, so he doesn't do this again to anyone else...Does anyone have a contract/real estate attorney recommendation?

Not only was he over on our contracted timeline (which include penalties) but he left me with a TON or extra work, double payments and extra expenses that I was not aware of.I want to recoup my extra expenses, lost rent and penalties and am not sure what steps are next to reporting this guy.Where are the best places to report him, other than his bonds, State Licences Board, BBB, so he doesn't do this again to anyone else...Does anyone have a contract/real estate attorney recommendation?

Instead of paying extra principle on a mortgage payment you could send a few extra months of payments as future payments instead.