Fix and Flips : How much do I put in and how much do I earn

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Hi. I am new to the idea of fix and flips. My market is Detroit (yes I know it is tough). I would like to do some fix and flips having dealt with buy/hold properties for the last two years. My question is how much do I have to put in and how much can I earn. I cannot do the model where I work with the other investor onsite. I would only be putting in my money for the deal. 

Can anyone share their experience or suggestions?

Originally posted by @Alethea Sealy :

Hi. I am new to the idea of fix and flips. My market is Detroit (yes I know it is tough). I would like to do some fix and flips having dealt with buy/hold properties for the last two years. My question is how much do I have to put in and how much can I earn. I cannot do the model where I work with the other investor onsite. I would only be putting in my money for the deal. 

Can anyone share their experience or suggestions?

 According to RealtyTrac and the National Association of Realtors, the average Fix & Flip takes 6 months, has a gross profit of $67,000 (before rehab costs are subtracted) and has a Net Profit of $15,000 after all expenses are accounted for.