You loose me on the turn-key stuff.  

Given that, using the leverage of the other lot by mentioning that she could keep the other lot as is and sell separately, that way she gets more for her dollars as opposed to selling all together with the house as is, because in the area and given the circumstances, it wouldn't be as financially beneficial.Guesstimate on numbers, as I am seeing the house SaturdayPurchase Price: $75,000 - $80,000Rehab: $100,000ARV: $285,000Time to Complete: 10 MonthsTime to Sell: 2 Months%ARV: 74Projected Profit: Around 55kThese are very loose ballpark estimates.  

I'll flip as many deals as I can manage/finance myself and will wholesale any excess.  

This is also a very risky manoeuvre to attempt for your first property as success depends on you being correct on the amount you can raise the rent and being able to improve performance before you have to refinance.I'm not certain why your father appears to be discouraging of cash-flow, but even if you would be purchasing in anticipation of appreciation (which is drifting more towards the speculating end of investing), rule one still remains: Never loose money!  

Analysts forecast excess inventory of class A units in DFW in 2015 due to completions of new construction. 

I would require at least a $5,000 deposit and a monthly payment in excess of the monthly payment of a bank plus taxes and insurance.

I ran it for the town, and seperately for the school district, taking average price per sq ft x amount of sq ft of theses properties both come in, in excess of 140,000.Anyone have any insights on "required" fha apprasial methods for such a property?

For water we consider it excessive if they go above a $100 a quarter  on a 3 bedroom. 

Whenever the account goes over $20k i take the excess cash and put it down on the principal of my duplex with the higher interest rate.

I'm sorry that you will loose money on this deal, but at least YOU DID IT!