Sale Price: $80KFinders fee: $$10KRepair Cost: $15KTotal expenses: $105KARV(based on comps): $160K - $215KI would really like to do this deal.

I am not a fan of crypto currency or bonds.Do you have a social life so that you can meet women?

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To me, that tells me it's a "guess" based on "fudge factors" which are based on "nothing" because of the lack of actual facts within the "fudge factors", and lack of any true analysis within the "rule".Third, if the rule has no real basis of facts, or analysis, and is not really a rule in the first place (or the 2nd place, in my order), then I'd say the 70% Rule is about 0% realistic...give or take 70%.

I am also a newbie based out of Fremont, CA

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You need(ed) to start from the end...your ultimate financial goals, and reverse engineer from there.You also need to understand that every entrance into a deal, sets up the exit...which is based on the entrance to the next deal, and so on...   

I'd think one may also even discount their bid for a note based on these facts as well.

It was fixed and just closed on 6/14/18 for $759,000.Breakdown/Deal Numbers:Acquisition Costs (AC): $525,000- Purchase Price: $510,000- Closing Costs: $15,000 (hard money points and fees based on $408,000 loan amount)Rehab Costs (RC): $80,000Monthly Mortgage costs: ($2890 per month for 6 months = $17,340)- Utilities: $600Selling Costs:  2.5% (as a Broker I listed the home myself and saved the other 2.5%) Sales Price (SP)  $759,000 closed 6/14/18- Commissions to Selling Agent: $18,975-Selling costs (property taxes, title, escrow, etc) $8,000Total Net Profit: $109,085 – Taxes & Any Additional Selling Costs- $759,000(SP) - $26,975(SC) - $17,940(HC) - $80,000(RC) - $525,000(AC) = $109,085Before:After:Thank you for reading.

Based on my desired tenant, I want to be in the second quartile of median rents.Based on my criteria above,  I start looking for a new property and I want to BRRRR.