Get a routine set up so you are continually checking on deals on a daily/weekly basis.

I have some funny voicemails saved that people have left....I work out of an office space and at least 3 times I have had sellers who have received my mail piece show up looking for us.  

Look at a lot of houses and work out your analysis.

This allowed me to see if it's something that would work out long distance while we are still here.

I can sleep better tonight knowing this one didn't work out!!

What is the cap rate work out to be on your 300?

So, to answer your question, if you buy a replacement property that has a purchase value equal to the property you sold, and you bring on a co-investor, yes you will recognize some or all of your tax liabilities because you have not exchanged equal or up in value.So, for example, let's say that you sold your relinquished property for $525,000 and your routine selling expenses were $25,000 so that you have a net sale price of $500,000.

They were only doing it as they work out of town and wanted to cover their rents, but told me to do it as we're in the same line of work and my place has been empty for the past 3 months.

I also used 12% for property management because, although they may charge 10%, they charge fees when a unit is rented out, so it will probably work out more toward 12%.

Everyday I working towards streamlining my house flipping business, and so far that has gone pretty well, so like you said regarding energy, although setting up those systems has taken a lot of time, focus, and effort, they have more than paid off and do allow me to spend a lot less time and effort while accomplishing a whole lot more.I'm sorry flipping houses didn't work out for some of your friends, and considering you are focused on other investment strategies this probably isn't the thread for you but thanks for your comments, and hopefully the feedback is valuable to others who are interested in learning more about running a house flipping business.