If a flip takes you 3 months start to finish you're looking at 4k a month.

As in $200-$300/mo/unit ... this will be more accurate generally, but still vary depending on the size of the unit, number of bathrooms, fit and finish, class of the neighborhood, etc.

I just finished reading "The Richest Man in Babylon." 

Second one we just finished the remodel and are waiting on the title company to finish our BRRRR refinance.

With low inventory and high prices considering the condition of homes to be subpar, I wonder if winning a bid from auction.com would be a better route, giving us the flexibility of rehabbing the home to our style while still gaining equity from the finished remodel would be best or waiting to see how the market performs in the next year.

Something dirty, smelly, dated finishes, awful colors, but all the major systems are basically sound, and discounted appropriately (or better) for the condition it is in ... don't buy it if they are trying to comp it based on turnkey ready homes. 

there is not close to enough info here to understand this.4.9 million includes homes or is he thinking finished lots are worth 500k each. ???

So even if you finished the rehab for the 3rd unit today, you may have up to 2 months to wait?  

I moved to North Jersey about three years ago after finishing college to start my career.

My son is a Mechanical Engineering Student at San Diego State and is finishing his Second year.What a coincidence!!