Im guessing its the difference if my purchase price and sale price but I doubt its that straightforward.  

Welcome to BP @Jaime McGalliard b sure to check out all areas of the site.

Here is a link if you want to check out that meeting.  

Since you are new you may want to check out the beginners guide under the educations tab above. 

Certain tools you find useful, different things I should check out, be aware of, etc..

I'm going the check out the pet screening website for sure!

@Timothy Burnes Don't do it. 10-20k in equity is not worth all those issues.Bed bugs are a significant defect that can take either $5000 and tenting the whole building for heat treatment, which requires vacating the tenants or getting them hotel rooms for a few nights, or a sustained program of prevention with bed risers, leg traps, sealed mattress bags, and the tenants need to keep it up for.. get ready for it.. 6 months, which is how long they can live without a meal.Sewage in the basement could be a big issue if you have a sewer backup problem.The sinking toilet sounds like it needs immediate attention, but at least that's a straightforward repair.The other issues are what I would consider "normal" as in, you could fix them but don't need to in order to make the place liveable.Based on the bed bugs alone I would avoid... if you are comfortable with this level of rehab you should be getting a way better deal. 

@Steffany Kluttz   Check out the Disrupt Equity Meetup in Houston. 

You can also check out a local meet up to connect with more investors for more ideas and possibly joint ventures.

If the 2bedrooms are not an issue,check out the comps.