I'm surprised your agent and the listing agent will even accept an offer without a pre-approval letter from a lender.

I was surprised how nice it looks.Best to you.

I've only known Darren a short time but being how generous he has been with his advice and insight this doesn't come as a surprise at all - just a solid guy.Darren - I owe you an email and will catch up with you soon!

How to calculate that is easy, I wrote an article about it, tweak the formula as necessary...http://www.biggerpockets.com/renewsblog/2013/01/19/real-estate-math/After that, just make sure you know the exact condition of the properties, using a home inspector, so you don't end up with unexpected repair expenses.

You find, they sell.I am a great marketer personally so finding deals and buyers is easy. everything else I am crap at so I run every deal off my mentor for approval and I use a fixed price rehab crew with its own management so I never have surprises with costs.It is highly, highly unlikely you will be good at all parts of flipping so you may need to bring those skills you lack on board before you will really start firing.

J ScottI am surprised you do not turn on utilities.

I will add that, even w/the surprises and hefty price tag on the work, the upgrades still fit w/in our budget b/c we had a contingency built in to our overall rehab budget.

If you start changing hinges, take one off and bring it with you to the store because you'll be surprised at the variety of dimensions that change from hinge to hinge!

In fact I would think the lender would want a high amount of reserves to cover high leverage risk.I am surprised you are finding 5 to 6% money at those levels.

You'd be surprised at how much further along you are than many who say they want to invest in real estate.