When factoring in additional costs such as maintenance, property management fees (if you do not opt for a property manager, and you should), and potential vacancy periods, the financial burden could increase.Check this out: If you're breaking even on rent at $1,600, any additional expenses or vacancies directly impact your pocket and mental health.

Considering the potential for unexpected costs, especially with the unpermitted addition and the need for significant updates like roofing and windows, the profit margin seems tight.IDK, the significant dip into your savings for a project with many unknowns could strain your safety net.

The city boasts a strong rental market driven by a growing population which could potentially lead to a steady income.

But hey, remember, I'm no legal expert, so it's always smart to double-check with someone who knows the ins and outs of property law in your area.

Here is a link that explains it pretty well too. http://www.nolo.com/legal-encyclopedia/tax-benefit...Dan Dietz

@Jesse GrimUsing a hard money lender (HML) could potentially speed up the process of accessing funds for your fix and flip projects, but it's essential to weigh the pros and cons carefully.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

So, with lots of potential FS customers following and viewing this thread to see if it's for them, what would be your advice on how to best win and be profitable using a system like this or just your advice in general on flipping currently? 

So I have a potential property to go under contact.

I don't do anything with list generating. but once you have located a potential property you might want to acquire, that's when my platform can help.