LA Investors - what's your minimum profit margin?

[Cecilia Kim]

Interested in hearing from investors in LA (or other high priced markets) what your expected profit margin is?

I realize it's difficult to follow the 70% rule and I've heard some investors say they'll go for a deal that has at least a $30K profit.

But $30K from a $1M deal does not seem like a good deal to me, right??

So, what rule of thumb do you follow?