I have had many reach out who were just in a living situation they can't be in anymore (breakup, roommate leaves unexpectedly, transitioning to the area).

Labor-only bids will also allow you to compare apples to apples on GC bids related to specific tasks.If there are some unexpected repairs uncovered during the inspection, this is your opportunity to ask for concessions from the seller.

I'm expecting the unexpected and hopefully have saved enough to cushion me against any major disaster. 

As you start investing, you'll need higher cashflow to cover unexpected expenses and to buy the next property.

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 

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

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

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'.

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

I'm not up on the laws in your area, but you might want to check them out before something bites you unexpectedly.