But the market's tougher than you anticipated.

I guess what I am saying is if I had $1,000,000 per month coming in on 3000 properties that I had loans on and netted $10,000 out of that I would consider that a nightmare of leverage and by definition a "house of cards".Back to you...if your happy that's all that matters...Right :-) Our P&I is $7,400 a month - so we would need 75% of our units vacant to not be able to make a mortgage payment (currently 0 are vacant except 2 of the units we bought last week and I anticipate leases on those this weekend).  

However, our best practices are to ensure our investor receives their payment, and if we are in a default situation we may choose to foreclose on the borrower so that our investor gets their capital and anticipated return, and we still effectively monetize the back end of the note. 

The current rents are $500, but the anticipated rents after reno are $1200.

When I read it all I was thinking is that Utah is becoming a sellers market with an anticipation of prices going up 4% possibly.

Sooner than you anticipate!

People lose their butts whenever they don't get good deals, or are over leveraged and get stuck with a property longer then they anticipated and can't afford to carry it. 

In other words, you have only held title for a few months, but you did have the intent to hold and then got an offer that you did not anticipate or expect.  

He tells me to wait.Whether it's your dad sitting on the sidelines waiting for the next correction or an institutional hedge fund liquidating to cash in anticipation of a buying opportunity, or Apple and Google sitting on, well, googles of cash waiting for the right opportunities.  

Although the few times I did this the C side closed but A did not and now I am stuck in a loan I did not want in the first place  LOL.. so I don't do it.. rate of return is great but to go to all the effort to make 500 or 1000 bucks in a day is simply not worth the risk of having 100k tied up longer than anticipated plus the time it takes to do the wire and makes sure its all ok etc.. just not something I want to do.but for those that have scaled it and have deal flow and are doing a bunch each week I can see that being quite lucrative and fun for them..