The trick is to purchase low enough and manage your rehab costs carefully enough that there is a significant profit difference even after paying all your acquisition, carry and selling costs.

Then, can it be profitable?

So, a bit about me, I bought my first home, a fixer-upper, in '97, followed shortly after by 2 duplexes and interspersed over the next 10 years with a few HUD flips and another personal residence that was a HUD foreclosure as well that I sold for a nice profit.

I heard a lot about Florida, but I would be available for any profitable market.As foreigner, and with 1 homes to start (buy and flip) is advised to have a LLC or Corporate?

From this information I can reasonably accurately run my rehab and profit potential numbers in under five minutes and let you know if I want to come look at the house.

You split the net profit 50/50.

As far as a duplex being more profitable than an SFR, per side, it may or may not be.

From the beginning I would feed any profits into a contingency fund.

I'm not going to pretend that it is what I've been doing here, I personally decided to focus on buy and hold in a more numbers friendly market back home in FL, but if that many houses are selling for a premium then it seems that if you can find any of the deals that aren't going through the more traditional sources you'd have a good potential for profit.

This of course exposes me to bigger profits, especially if I open up and get people working for me and doing more than one rehab at a time.