That means out of the $65,000 you have to subtract renovation costs, holding costs, taxes, insurance, realtor fees & closing costs etc. and of course short term capital gains to get your Net profit that goes into your pocket.)The 47,071 home flips in Q4 2018 were completed by 37,379 investors, a ratio of 1.26 flips per investor.Homes flips completed in Q4 2018 took an average of 175 days, down from 177 days in the previous quarter and down from 178 days in Q4 2017.So, the average flipper gets a flip completed in 6 months, and makes $15,000.

I was pre-approved for a loan and with all the interest, insurance, and principal the loan will be about 2250 a month.

Remember, acquisition and end sales costs, taxes, insurance, etc. 

Did he provide you with a contract , licenses , proof of insurance ?  

I doubt these foreclosure/quiet titles prescribed by the new law can stand up to appeal and I doubt any title insurance company will issue on these deeds for two reasons:  1.

I consider Vegas a relatively cheap market when you consider most houses are less than 20 years old, have property taxes around $1600 and insurance under $600.

What are the fixed expenses (taxes, insurance, etc.)?

It seems like it has the potential to be a decent house hack where I can live in one side and rent out the other side, but I am analyzing it as if I were renting out both units.Here's the overview:Seller accepted my offer of $90,000 (they were originally asking $95,000)Similar sized duplexes rent for around $1,500 total ($750 per unit)The total gross rent would be about 1.6% of the purchase price.I can get a conventional 30 year loan @ 4.5% interest, with a 5% down payment.Mortgage payments with PMI would be around $469 according to mortgagecalculator.org (not including taxes or insurance)Using the 50% rule of thumb to estimate expenses, I might be able to cash flow around $140 per unit.Here's what I found out when I went inside:There are 2 new forced air furnaces.Updated pex and PVC piping.Updated electrical wiring with separate panels.2 old corroded hot water tanks.

You should have an attorney and it should be settled by a title company with title insurance.

Figure rehab and costs based on ARV target.Add holding costs, insurance, realty fees, etc.Work backwards from target.Drop in costs.Rehab.ROI.Etc.