We all would like to do multiple flips at a time in the future, but realize that is a ways off as we are all currently full-time employees.

This year, I have bought 9 houses, added $7,500 to my gross monthly income and only $2,000 to my gross monthly debt service. 

If you need to cough up cash in order to force cash-flow I would not proceed.Also, when calculating your annual gross income assume you are only collecting 11 months rent.  

I really need help from a flipper/rehabber who has knowledge about the process of hiring employees.

HML loan for the 600,000 and points you have about 850,000 all in.New rent value 550 per door X 50 = 27,500 month X 12 = 330,000Take 330,000 divided by .50 half costs = 165,000 NOIAt a 10 cap that is 1,650,000 for resale. 1,650,000 - 850,000 = 800,000 gross profit before resale costs.If 18 months before selling you are averaging 44,444 profit a month building up over time versus house flips you could be doing.

Realistically, it would take about $1million more just to get the property back to good, not excellent, but good condition.He is out of money, borrowing money from his wife, not paying vendors, not paying contractors, not paying employees, not paying taxes, not paying state required business fees ... the list goes on and on.This is just a small example, and just one example of the expenses involved in ownership, which is why what you need to bring to the table is a very small issue.One of my mentors has this rule of thumb.

Also, it is small enough that I think employee theft won't be a big issue.

or would you want it based on the gross sale of the finished product.

Gross rents?

One of the biggest problem that investors have in this business, is dealing with partners and employees.