It is a foreclosure duplex 2600 sq ft assessed for 94kAsking 35k I will offer 25k plus 10k to fix upBefore the bank took it the property was renting 650 per unit with tenant paying for everythingThe agent told me that the previous rent was a little lower than market for a 3br apt.IncomeAnnual rent (based on 600 per unit) 14400ExpensesTaxes-3900Insurance-980Property management-1440Vacancy(5%)-720Maintenance- 1440Total-8480Net Profit- 5920 Loan at 8% with 3500 down= 231/per month, annual- 27725920-2772= Cash flow- 3148The agent said That after fixed I could get easily mid 60's and that is even 30% below assessed value so should I cash flow this or just flip or neither and wait for a better deal?

It could be that each lawyer only brings 1 deal in 18 months but the deal is highly profitable to your business.

I know I'm in a great situation either way I go but just would like some perspective and advice.As far as potential flips, yes I have a piece of dirt I'm trying to flip now potential profit of $10K-$15K.

Obviously the retail and big down payment parts are extremely unattractive, but I'm hoping that negotiate him down on price, and make up for the rest in terms.I think the chance of successfully reaching a profitable arrangement is very low, but it's worth it for me to get experience in negotiating and considering terms.Before I jump into this, I would like to know how the heck do you write a note?

Flip, wholesale, partner, hard money - that makes 4 ways to turn a great deal into a profit if there really is a great deal on offer.

I'm hoping the next deal will afford me either less rehab work/similar profit or larger profit considering I spent a couple months rehabbing the house....brand new everything.

To pay for the tax relief, the lawmakers approved rules making it harder for people to exclude as much as $500,000 in profit from capital-gains taxes on the sale of second homes.

You are currently at the price and margin level that you just need to dump it .

I usually just held on to the property as long as possible, with or without tenants, and sold to make a decent profit.

You'll have to come to terms with forgoing some of your profits---you'll need to quantify the rewards/risks for taking this approach.