.: I am trying to learn and understand... someone told me that its not just size of the home or level of the flip that determines profit, and that in some markets, what is considered a typical profit is 300k based on the 70% ARV formula.

Lot size is around 6000 square foot and total square foot is about 1300.

As The Mortgage Reports says:“. . . many homebuyers are able to secure a home with as little as 3% or even no down payment at all . . . the 20 percent down rule is really a myth.”According to the National Association of Realtors (NAR), the median down payment is a lot lower for first-time homebuyers at just 9% (see chart below):The takeaway?

Hi I'm a general contractor and the price range varies based on size and materials, unless someone is able to take measurements and have a list of exact materials you'll be using they won't be able to give you true pricing.

Check out this chart: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% Source: Fair Isaac CompanyMake sure you understand the Class of properties you are looking at and the corresponding results to expect.Metro Detroit has 132 cities, the City of Detroit 183 Neighborhoods, which we’re analyzing and classifying.

Check out this chart: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% Source: Fair Isaac CompanyMake sure you understand the Class of properties you are looking at and the corresponding results to expect.Metro Detroit has 132 cities, the City of Detroit 183 Neighborhoods, which we’re analyzing and classifying.

It’s a real opportunity for homeowners, investors, and communities to respond to rising demand for diverse, attainable housing—with more flexibility than ever before.Why I’m Paying Attention...For those of us who work in real estate daily—whether investing, selling, building, or advising—these new laws change the landscape.Properties that used to support one home may now support two, four, or even six units, depending on location, lot size, and proximity to transit.That means:-There is hidden value in older properties and large lots- More creative paths to cash flow- New ways to help people find housing and build wealth-Potential for more affordable housing -Opportunity for multi-generational housing on a single lotLet’s Explore This Together- What’s your take on middle housing?

Keeping an eye on the market and hoping to have this deal done soon and transition into the BRRRR method to increase portfolio size. 

Negotiate Seller Concessions or Carryback FinancingIf the seller is motivated (property has been sitting 4+ months), explore seller carryback for some or all of the gap.Example: Seller carries a $40K second at low interest (or even interest-only), allowing you to minimize the size of any outside second loan Seller carrybacks don’t count toward your DTI and can be creatively structured.2.

What @James Carlson said can minimize any problems, but to be honest you have an extremely small sample size.