If I sell the home and make $16k in profit, would I owe uncle Sam 35-40% in taxes for a short-term flip based on my w2 bracket?

Profit and Loss by Class lists my revenues and expenses but of course does NOT include principal payments and capital expenditures.

You don’t make enough money to pay someone to run it for you profitably, and if your not willing to put in the extra hours after work once you’ve acquired the unit to get it rent ready and producing, your just fooling yourself.

It will get your source's funds back to them, with "friends" (profit), and establish your credibility with them for the next phase...which is where the free money potential comes in.

Higher rents, higher ARV's, higher AP's, higher cash flow and profit potential on spreads are the numbers that matter most to me. 

Does anyone have a recommended P&L format that they like and use?? I don’t mind paying for one if needed, I just need a better format than my DIY version in excel. Any advice is appreciated!!!

Thanks!

It's all a risk and I figure a long term investment will get good profits for the long haul

We're gaining more profit by self managing and growing quicker than if we did turn key.However, there are plenty of people who make money and succeed buying turn key.

I decided it wasn't a good idea because I looked at how much they would take of the profits if I chose to sell in 6 years. it is all situational. 

So, in your example, if $95k is the maximum you think you can pay and still make a profit, then you have to figure out how close to that number you're willing to start and go from there.