Tell the buyer you’ll walk with the contractor , he doesn’t need to spend he’s precious time to walk half broken houses with contractors 😉

Depending on the amount of time you have to spend on managing the tenants and dealing with finding new qualified tenants you may want to at least compare the costs of hiring a Property Manager.

The cash flow on that end of the spectrum will win all day long but you will generally spend more on repairs, evictions and time than on an A class.

In this case, does the down payment that is paid by the borrower go to the lender as profit/rehab budget or are the articles and threads im reading not including the LTC in your example?

I'd be thinking back about my concerns about spending money on egress and then I'd never be able to sleep again.

Skip the LLC nonsense and spend the money on good insurance.Not legal advice, I am not a lawyer, just my opinion.

@Frank Macias 15% does seem reasonable to budget for.

In fact, if the tenant is spending their money paying the old owner, how much do you think will be left for you. 

However, would most consider the $116k personal income and have a bank account where it all flows into for spending however you see fit, be it reinvesting, personal travel, etc... or would you consider it business revenue and take a salary?

Prospecting is how you will spend the majority of your time wether it is for buyers or sellers.