Real Estate flips are the most challenging of real estate projects. First they require a very detailed analysis of the cost of repairs. Second, they require management to guarantee that the budget stays on track. Third, the repairs will always be more than you expected. Fourth, the word flip assumes that their is someone to catch it once you flip it. Market times must be included in all analysis. I suggest you use 12 months of carrying costs and 5% seller concessions to give you a conservative rate of return and a realistic project cost.AH