There will ALWAYS be unexpected things that come up with a flip.

Project was supposed to be completed by July but we have been going through problems with permitting, unexpected things coming up..I have 2 more payments remaining on the contract-- my contractor asked if he can get them in advance to finish the project 'in the next few weeks'.

If I am reading your numbers are accurately,  If you are putting $13,980 down & are lucky enough not to have to put any more capital into the project or have any vacancy, or unexpected expenses, your return is 6.45% annually based on $75.12/month net profit.I think this way to dangerous & skinny 

Hi all,My question to all of you who have made the jump from corporate jobs to investing full time:- EXCLUDING money, what were the biggest / most unexpected challenges you faced?

One unexpected expense or a longer-than-anticipated vacancy could wipe out any profits and put you in the red.

There's just not enough cash there to handle routine maintenance, turnovers, plus unexpected expenses and capital improvements.

This made us delighted to carry back financing on the home.

Based on what you said about your bills and such, you may just want to try to save up some extra cash for a while to be able to better handle the unexpected.

He listed it at $48.9k. https://www.zillow.com/homedetails/230-Maplewood-A...I think it was a combination of reasons: underestimating rehab which led to overestimating ARV (if he had done everything he wanted to do to the property, he could have sold it for around $55, but too many unexpected costs came up), he didn't know guidelines like the 70% rule (or, as Will Barnard suggested for homes with an ARV under $100k in podcast 32, the 60-65% rule), he overpaid for the home (he bought it off a friend who was behind on the taxes; if he had waited, he could have gotten it at foreclosure price), and I'm sure we'll identify more. 

The transaction went very smooth and I'm beyond delighted with the work of the developer.