In my experience, the 50% rule would include vacancy, management fees, capital allocation, etc.

@Richard Chang,  Your basis (read that gain) goes forward as an allocation into each of those properties.  

So do we want to allocate time and money to making sure people who are lazy, stupid, or both are comfortable?

His plumbing allocation is $44,000...my other bids are between $25,000-$30,000 all for the same work.

I probably have about $200k to allocate to additional deals if I have no other income coming in, which gives me runway for another 2-4 deals at 25% down + rehab costs.

Make sensible financial decisions by allocating funds for unforeseen fees, insurance, property taxes, upkeep, and mortgage payments.

Debt investment such as HML loan from Chris fund above, PPR fund (these are private with lockup).To visualize what I'm saying is try to find article from Citigroup 2024 survey where the family office is allocating investment for their client. 

Some things that I have thought of would be allocating them to ETF's or IRA's or something like that.

I allocated property management but I've been doing it myself.

My wife and I have a very small nest egg set aside that is allocated for property aquisition, and that egg grows by the month, so we're not in any hurry.That said, like many other areas around the country, real estate prices are climbing and finding houses on the mls that meet our criteria seems to be going nowhere, which has me looking elsewhere.Looking through the bigger pockets marketplace, I see adds for a few turnkey companies,  and have gone so far as to email a couple in hopes of talking with them this week.