Also, my parents who partnered with me ended up living there for 8 months and paid me rent, so I have two values, one gross profit for the project including their payments as "investments" and another without their payments looking at the actual project costs.

Thanks guys, funny I've actually used all of those vendors for my last job!

@Willie MoralesIn defense of your lawyer, look at what actual mortgage and loan documents say.

I've seen several posts about how you should get private funding from investors, and although I'm not at that point, it would be interesting to talk to those who have actually done it locally. 

And it being a 1st flip it’s actually more about the experience and getting a foot in the Door.

I spend eighteen months going to the local sheriff's sale before I started actually bidding on properties.

It looks like an actual confederate flag hanging on the wall but that's just the way the wall stained.

Actually I'd love some feedback on that line of thought, what do you think?

I paid the owner my rent, which happened to be equivalent to a mortgage payment.On January 4th, I actually bought it from him and became the owner.

They don't account for the time spent on the property which dramatically reduces the actual return.