Reasonable profits

[Dana Brown]

Relatively new to flipping/rehabing. The rule of thumb we always hear is 70% of the AVR and rehab deducted from there. In our market the median sales price is close to 300,000. I understand in a <100,000 market how that rule of thumb is super important but in our accelerating market we are not seeing people willing to walk from 90,000+ repair costs. We are also inclined to think a 30k profit is acceptable and reasonable. It seems that  an 85% ( - ) repair costs. would still amount to a successful 90-120 day flip

1) With regards to the 70% rule, does the dollar profit ever over shadow the percent rule? 

2) Does anyone have any good advice for still succeeding in an accelerating market?