I've got what I consider a healthy cushion for repairs as well as holding costs, and we went fairly conservative with ARV.Note: I'm not looking to be convinced to not do it, I'm interested in hearing from those who have fixed and flipped.

@Nick Causa80% can be achieved but you will need a very healthy DSCR.  

Steve, it is a very healthy question and it shows you are thinking critically.

$40K (per unit) is a healthy rehab budget for a 2/2.5 rental unless it's completely distressed, but if that were the case, I'm not sure that it would have been listed at $245K? 

Due to the clay soil.

Sinking soil is a good indication that there is a leak failure. 

Stucco itself isn’t the problem, but it isn’t all that great of a choice given the soils and climate for Houston.

A disturbing number of them are living in way too much house, driving way too much car, and are not saving or investing enough of their healthy paychecks.

Nice cash deal, getting the bank-owned home for cheap, it looked to be about a month's work for the contractor and a healthy profit for the owner once it was sold.

He bought the land for $1200 back in the 1970's and he just wanted to finish the project.I will list it as three separate listings, and the numbers are very healthy for my market (university town).When I run my personal proforma, I don't look at the AirBnb numbers.