I have been looking for a 2 flat that needs a little work on the west side (Logan square / Humboldt park area), and there are maybe 2 for sale!

We just assume it was good and it bit us on the sale.

I have great loan guy in the Columbus market that does nationwide loans and can do loans for homes low as $20,000 sales price and doesn't add junk fee's or hike up the rates because it's a low sales price.  

So if your end product is 40k  lets break it down.. not a sales pitch or what you want to hear.your turn key company or provider is going to want to make at least 10k.. that's common in the industry.. that leaves 30k to do all this... your contractor putting it all together wants to make 3 to 5k.. so that leaves say 25k to put it all together.to have a sustainable rental.. you need New mechanicals new roof.. sewer scoped and replaced if needed up graded plumbing and electrical.. new paint and flooring.. cabinets and appliances and hot water heater.. this all cost at least 15 to 20k.. leaving you to pay 5k for the asset...

Then either a sale for land or development (another 8 months).

It would also be simple to produce a buyers list coming from our sales department.

We found 3 of the Flips just mentioned pre-market by word-of-mouth & still paid a little too much, but the last purchase/sale made up for that. 

I expect to complete rehab within 8 weeks and we add 3 months for sales/closing process.

@Drew Reynolds I failed to mention in the original example the sale price would be 200k to walk away with 100k because that house is financed.

Currently I am finding no foreclosures, short sales, or other properties to flip listed on the MLS  in my area.