Hi Alex,This is a commission based career, meaning we eat what we kill.

That said, old lumber was usually old-growth and some of that lumber is virtually petrified so that nothing's going to eat it or rot it. 

Now flash forward about two years to where we are now, and the purchase price of a fix and flip in FS is going to be a considerable amount more in most cases than it was just two years ago- the numbers here might not make as much sense then in this case (it's certainly going to eat away quickly at your ROI).

Also anyone familiar with AZ law know if you are allowed to protect youself from damages from "servcice animals" I read that for pet deposits service animals are NOT pets.TIADJ

MF is a different animal to SFH.

However, if it gets to be that we are meeting multiple contractors and having to stick around at a property all day for several days waiting for contractors (who often are late or don't show), that eats up a lot of time that isn't being accounted for in the normal fee.

You are generally not required to eat legitimate costs.

I always thought I'd try to avoid condos as there is lower potential for the property to increase in value and condo fees eat into cash flow.

Time and management can eat away at any kind of returns or equity return you are getting by pulling capital back out.

As the household income in older areas declines, prices and rents fall to match.Generally, home prices will be significantly lower than metro areas with expansion limitations.Investor FriendlyYou could buy what appears to be an outstanding property only to have operating costs eat all the cashflow.