the interest will decrease with time, but by then maybe capex will start kicking in, but first year/max 4000K/year-333$/month.The depreciation, if building is only 50 % - 151$/month, if 20% - 60$/month, with interest total 393-484$/month.Vacancy (10%) 125$/month, and capex 183 $ /month, total 308 $/month, which would leave 85-176 $/month for positive cash flow that isn't taxable,  not a lot and that number only goes down with time.

For smaller properties, your PM is, probably, not going to be the best and brightest especially if they've been in the same position for 10 years. 

These aren't issues that are specific to flipping and should be a primary focus for any real estate investment - The bottom line is that you made a profit despite the challenges you faced - and congratulations for that - but it seems to the bystander that you gambled with another investor's money while investing very little of your own - you put yourself in the position of a teacher or mentor when in fact you are not extremely experienced in the business of flipping - consider how you would feel if you lost a portion of your partner's investment....Today I am closing on the purchase of my 15th flip for the year, and I wouldn't dream of taking on an investment partner who wasn't equally experienced and had an equal say in the decision process.Good Luck with your future projects and Happy Investingjeff 

We don’t know the exact language of your contract addendum, timelines within it, or notice requirements.  

Any advice on positioning myself to get the strongest terms? 

hello everyone,i have notice that the market I am in os pretty hot right now and wanted to know everyones take on virtual wholesaling in other states and possibly how to get started doing that and understand what the starting point should be?

Also, I noticed you're in Florida (I am outside Pensacola).

@Rick Browning have you ever had a positive eviction hit from Maine? 

Will a private lender loan without taking a lien position on the house? 

But I noticed the opposite happened where my mother lived in California, especially in vacation places spots like Tahoe.