The $1500 in origination charges isn't the profit center, the sale of a fresh new mortgage for $10k on the secondary market is where the profit is, that $1500 is small potatoes.No reason not to call your original loan person. 

And that formula is (Gross rents X.75% Minus PITI = Net profit or loss) so lets use some numbers in that calc.

The property is currently zoned as a multifamily, but all the research I have been doing suggest that we could make more profit if we sell it as a single family.

College Hill next to Lafayette College in Easton, PACost of Property:  $170,000Appraised ARV:  375,000 low end with $425,000 high endRenovations:  91,000 and will take 6 month to completion$60,000 In liquid assets, Credit scores between 690 and 730Projected Net Profits are $100,000, in my estimates, this is a HOME RUN!!

The agent is asking for a commission which I understand he needs to make money someway and if I still walk away with a profit I would be ok with that.

The flood quote from an agency is based on replacement cost of the square footage times some risk rate times their federal actuarial profit whiz bang machine.

Stop holding on so tight to your profits, that your paying more then they are worth.

Rent is increasing in our area so we can adjust for that each year and make more profit. 

That leaves about a $45,000 profit before closing costs. 

I own my first home and rent it out for a profit.