I am from Utah so I am looking for dependable and trustworthy people that I can count on even when I’m not physically there.

So we had a single applicant (not counting the one that pulled after we started processing their application).

Also you can't do any of the repair work yourself and must hire a contractor which defeats most of the benefits of a live in flip. 

As long as your contract gives you an out if there are surprises you weren't counting on, then many questions can be answered after you write the contract.

Often: the smaller the unit, the more frequent trun over- you probably pay for heat for all tenants- ownership expenses are fixed per unit and mostly a function of kitchens, bathrooms etc, income goes up with bedroom count - at the same fixed cost- your management cost is a fo=unction of tenant count.

When the job requires fishing you can count on 3 to 4 times the normal cost.Adding a receptacle with open studs can be tallied at $75 each, fishing that same receptacle could be estimated at $200. 

Going through the motions of creating a lifeless business plan just because you have to doesn’t really count.

Maybe only because it’s the beginning and once I get a team I can count on them it will be easier. 

But its hard to predict that type of thing and i personally don't like to count on it.So you may want to find ways to look off market to find a decent deal. 

You generally don't count your rent as you're not paying rent.