Location: Raytown-adjacent, outside the 435 loop, 73% owner-occupied neighborhood, Raytown schoolsProperty specifics: built 1960, 3/2, 1200sqft, 2 car garage, large lot, quiet streetPlanned renovations: New roof, HVAC, some new electric, finished basement, good cosmetic finishes (hardwood/tile, granite, etc)NUMBERS:Price: $99k (after renovations)Projected rent: $1100/moEstimated monthly expenses: ~$400 (allowing for vacancy, maintenance, taxes, insurance, PM fees)I'd use leverage to purchase, and with the payment factored in I project just under $300/mo cash flow and about 11% COC, Cap rate between 8-8.5% depending on how you crunch the numbers (I'm rounding them for the purposes of this post, but I calculate pretty conservatively).The numbers are decent, and I like that this house is on the higher end of neighborhood normal - it should be a very desirable rental, and attractive to a potential future buyer (though I intend to hold).  

Friends of mine that build houses tell me they can build at $60.00 a square foot plus land costs and utilities, water, sewer, electric connections to city utilities.

I ran the numbers with my carpenters who do my renovations and with me being the General Contractor, pulling permits, buying all materials, subbing out concrete and electrical, the cost would be about $12,000 or $27/sq ft instead of approx. $40 -45 sq ft.  

Looked up permits online, new electric panel, permit on a new roof etc. 

Will you still do electrical work? 

Long story short, received an electrical bill for $232 for month of July.

Being very handy and extremely comfortable with numbers, and having a connections in construction, design, electrical, HVAC and plumbing, I think I may have the building blocks to make a legitimate go of the flipping business.

@Antony Gayden They are all two bedroom units with basements, we are totally re-doing bath and kitchen, floors have to be refinished, new appliances and electric, some plumbing, all walls have to be recoated a few windows, paint.

New bathroom and electrical fixtures and painting. 

Currently our hvac, electrical and plumber all pull their own permits, if needed.