My wife's family lives in Cincy and my sister-in-law is one of the better agents in the area and has owned a couple rentals.I'm hoping to gain the knowledge and confidence to pull off my first flip by the Fall and hoping the BP community can help guide me.

I once left my purse in a McDonald's while traveling.

Depends on how confident you are in the comps and the repair figures (they tend to go over budget), but from the numbers you gave, I think doing this one yourself makes sense.

I understand it's a learning process and experience is the best teacher but if we can all shorten that learning curve we would be happy campers.I have my goals, still looking for a mentor to guide me through my first couple deals and then I will be good to go in terms of confidence.

Usually they will toss in other little exits, subject to some verified condition that wasn't met entirely.A buyer can be confident to shop being prequalified, which is also what a Realtor may do.

Question: I am entertaining the idea of living overseas for a year to travel as well as save some money because I won't be spending so much (Thailand is calling my name!). 

Ideally we would like something not on the East Coast, as we are west coasters and do like to travel to check on our places from time to time. 

I believe Approaching the problem, with confidence will help.  

I have picked up 4 rentals in my travels the last 10 years.

I used 525 for the numbers.Cost of the unit is $225KI used an idea of 30 yr. mortgage at 8% for 100% = 1651 Current taxes are around 3K = 250/ monthInsurance 3K = 250/ monthP.M. cost 10% / unit = 420/ monthMonthly maintenance = 150/ monthSo as you can see I am confident with my breakdown, however the number that is subject to change that will make the difference is the Mortgage.