I realize everything is profit in the end with these since they were gifted, but if I were trying to buy this property to wholesale or flip it, I'd offer somewhere about $35k. 

Our favorites:- REO's (making lots of offers on listed REO's and just getting a few, or going directly to banks)-Mailings (particularly to foreclosures, but also out-of-state absentee owners)- Foreclosure Auctions- Tax Auctions- Scanning Craigslist for low listing (pretty rare, but it happens)- Networking with good wholesalers (this is also pretty rare)

There are others, too.Also, my personal favorite: Mike Cantu's Rental Management book and CD's (I sell Mike's course on my website because I'm so impressed by it).

By far this is my longest but favorite deal!!  

One of my favorites is "Charleston Green" which is almost black.

I have done well over 200 flips and continue to do more, but I first want to discuss my favorite house of all time, a Historical Victorian House located in Grant Park in Atlanta.

You are in Nevada and tile flooring may be a good option for you, or vinyl plank flooring (TrafficMaster Allure Ultra is our current favorite), or you could re-carpet.3.  

Don't miss The BiggerPockets Podcast - they are great for learning how others are finding success.By the way - here are my favorite articles on Wholesaling: 9 Reasons You Couldn’t Find A Buyer For Your Wholesale DealDon’t Start Wholesaling Until You Read This: Wholesale Advice from a Fix and FlipperHow to Start Wholesaling: Getting Past The Education and Into the FieldOh - and be sure to set up some Keyword Alerts- especially for "Brooklyn" so you'll be notified when people mention it here in the forums.Thanks again for introducing yourself!

That is one of my favorite places in NE and have gone for day/weekend trips there several times.  

If so, this would be $3,200 in rental incomeExpenses Total $1320$174 per month real estate taxes$250 per month insurance probably thru national real estate insurance group$75 per month water$75 per month trash$160 per month allocated to the 5% vacancy$267 per month property manage fee$320 per month maintenance at $10% Operating expenses would be 43%Yearly net operating income would be $22,560Monthly cash flow would be $1880With no loan CCR is 36.68%List price is $325,000 but going to try to get it loweredNeed to do a loan though which really brings into question if this is a property to look at.I can make the 20% down payment with my funds (heloc loan at 4.75%) and a gift from my parents but this will be a loan thru an LLC so a commercial loan.