Your strategy is okay, it can be done, in reality, the landlord knows what it will rent for, getting it for a price and financing terms that allows you a profit will be the task.The LL who wants out is a good one to look for, they carry it and have no maintenance worries, leasing problems and tax advantages, so use those angles to cut your deals.

Freedom soft looks good on paper but in reality it will never replace good old fashion hard work and due diligence.

No matter how much you target or would prefer a "retail" buyer, the reality is that you are competing with those other distressed properties when you sell.You need to use those low sales because they are reality and simply try to buy lower.If you are lucky and get a retail buyer for your flip, it is a home run.

Working with someone who has a definite set of goals, knows what they want but is willing to compromise with reality and have funds is the best buyer, homeowner or investors.

In reality, your MLS asking price will probably be more than what an investor will want to pay.

NOI of $110-120K would be closer to reality.

Some people are lucky to pull in $35K-$50K in profits from a flip.You may get greedy but in reality you need to be realistic and expect a decent profit.

For example, if you are strapped for time and/or not sure of what you are doing then in reality a GC can save you money.

Everything makes sense in the books - the reality is always different.

Also, he would have to turn down alot of possible deals because they are over 100K.It is a good business but luring him with 30% monthly returns is ridiculously pie in the sky.In my experience, the reality is 2 or 3 transactions a month for 1.75%, but I don't make it my full time business.