It was an online auction that got bid up between me and one other investor, so I knew the profit was going to be tighter when I worked out my max bid, but with less inventory and more investor appetite, I knew that a $30-40K profit on a flip in that price range was to be expected.

Given this - the biggest change in my appetite is to look far beyond my comfort state (NJ).

If you don’t have enough in rental income for the tax year to offset your losses, you should be able to carry the excess over to a future year.

What I did is get a person I know with some excess cash to write me a HELOC against my primary residence and used that HELOC for the cash to buy the house.

Then, use a damp cloth to wipe off the excess. ~ a guy who has put in and removed a crap-load of toilets.

You don't want to overextend yourself but excess cash does no good.

Very common for Mound systems and other alternate systems to cost well in excess of 20k..

Future excess cash flows would be reinvested in the same reinvestment assets as previously, then discounted to the present day.- Project various terminal year cash flows based on various potential sales prices to set up a "if the property sells for ___, then we'll return ___ " type of situation / table.Would this be appropriate / logical?

Justin, I 'd love to link up with you and possibly work together to eliminate excess work.

I carry insurance, both general liability in excess of $1 million as well as workmen's comp.