Obviously as a seller can save a lot, but regarding buying- how does commission work then?

In fact, I usually say “this is the standard contract published  by the Texas Real Estate Commission”— I actually think that helps.

While evicting someone is never fun we did receive a commission from the purchase (my business partner and I are both agents) which covered the cost of the eviction and then some. 

Please include commissions or housing as well.

The selling agent said it's not too late to bring in a broker to collect their half of the commission, (around $25k!)

=================================Property Value: $2,000,000Down payment and Carrying Cost: $535,000 (25% down plus carrying cost for closing etc.)Repair Cost: $100,000Investment period: 3 YearsSales Price: $2,300,000Sales Carrying Cost: $125,000 (sales commission to broker 4%, final water/electric/gas/other bills, any other charges)After three-year mortgage balance: $1,500,000 - $265,000 (principal that are paid off in three years) = $1,235,000Rental income total at 7% of down payment: $105,000 Total Proceeds: $2,300,000 - $1,235,000 - $125,000 = $940,00065% of proceeds: ($105,000 + $940,000) * .80 = $836,000Total investment: $635,000Percentage on return: ($836,000 - $635,000) / (3 * $635,000) = 10.55%===================================

My  current hit points: $5k in in repair costWe'd close using my private money and hard money contacts, so no commissions for her to pay, much lower closing costs. 

As the agent representing myself the commission went to costs.

It allows you to access the MLS, list the property and keep 3% of the commission you would otherwise give away.

Even if you subtract for RE commission, closing costs and discount the property for a fast sale, you should clear around $50-55k.3 - It would take you around 17 years of perfect tenants to reach $51 k in cash flow.4 - If you invest the $51k in flips, make only 10% per flip, and do two a year, and don't reinvest your profits...just keep reinvesting the seed money ($51k), you could profit over $5k/year...double what you would be getting in CF if you left it as a rental.5 - Now, if you reinvested your profit back into the flips, you would be compounding you profits.6 - 10 years of compounded profits, at 10%/flip...2/yr = over$280k in profit7 - After your accumulated profit reaches the point when added to the original seed money equals enough  to when flipped, you can use just the profit to buy rentals.8 - keep flipping the enlarged seed money.