To do a tub, he charges $275, and to do tub surround tiles, and the tub, $475.

You need to find out what fees are involved in the transfer as some developments charge high transfer fees.

I'll will be the one doing the house hunting and putting money down and he would be in charge of rehab.  

NO communicating with you, keep proceeds of rent, poor tenant management.....drinking, drugs........ over charging?

Do the numbers still make sense if you had to charge 10 or 20% less for rent?  

After 2 years of owning it, not only has it generated a steady stream of positive cash flow, but we have applicants bending over backwards to rent it out, and it has increased in value by $200K!  

I have a group that meets monthly(my profile has details), there is another group that meets monthly, there are 2 real good BIG groups that charge $140+ per year but are great for networking.Start meeting people, learning, business cards and let everyone know that you are looking for properties to purchase.

Banks I talked with do not like having many small properties for collateral and want  to charge me huge amount in 9 full appraisals and points ...

C Meddy,I use a guy in OC that charges a very fair rate and also owns rental properties himself.  

I'm pretty certain that the epoxy manufacturer has something to say about that and in what applications their product is suitable.The moisture is possibly vapor (since you didn't mention any flooding), so being trapped by the epoxy floor, it formed bubbles and collected as water.