Design varies SIGNIFICANTLY between products which is where we felt AppFolio excelled.

(FYI- a buy and hold will most likely be negative cashflow onPurchase Purchase -$1mPurchase Costs (appx) - $10kTotal purchase costs - $1,010,000Holding CostsMortgage-$5,662/mthTaxes (estimated at 1.15% annually based on 1m purchase price)-  $958/mthInsurance - $250/mth (could be more these days)Total holding costs per month are around $6,870Assuming the best case scenario of the property needing no maintenance or rehab and a quick turn around of 2 months for listing for sale to close of sale, your holding costs would be $13,740SaleSale Price $1,200,000minus sales costs (~6% -see comments above) $72kNet Sale proceeds - $1,128,000So, in the best, best, best case scenario the #'s are:$1,128,000 (potential sale proceeds)minus costs of$1,010,000 total purchase costs$13,740 holding costsFor a grand total of $104,260 in potential net profit if EVERYTHING goes as planned with NO repair costs and a very quick sale, etc.

The buyer determines the sales price based on THEIR perceived value and what they are willing to spend. 

The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.

@Pamela MaduroI run my whole flipping company through Google products (sheets, drive, Gmail...) and QuickBooks Online. 

I have had people tell me it is illegal and would trigger a due on sale clause.

In Texas, does that lien survive the tax deed auction sale?

In this market its hard to model out sales.. but when I went into it I did model it at 2 sales a month and we have done justs about that our starting prices were 550 to 650 3 years ago.. today we are 650 to 950k same models.. so end profit far exceeds original proforma's that we did for our banks.

If you pick out 5 per square foot product then the labor charge is a smaller percent. 

Purchase price: $54,000 Cash invested: $55,000 Sale price: $149,000 Small 2/1.