Well, yesterday was the big day. We closed on our first investment property together. The closing was relatively painless and only took about 45 minutes. We spent the rest of the day getting supplies, going to the house, and getting bids. Today John started demo. I took pictures and video and will post them soon. I read this article about how reality TV flipping shows don't give viewers the real details about the costs involved in flipping. They simply give the purchase price, rehab costs, and the sale price and use those numbers alone to calculate profit. These profits are artificially inflated because they do not take into account the substantial other costs that go into it including holding costs (utilities, insurance, interest, etc.), closing costs, and realtor fees (5-6% of the sale price). In our case, these three buckets add up to more than $20K. So, in an effort to be transparent, here are the financial details of our project: Purchase price:$155,000 Rehab budget$45,188 Holding costs:$4,238 Closing costs:$5,725 Realtor fees:$11,750 Sale price:$235,000 Profit:$13,099   The profit is a lot less than what we discussed our threshold should be, but after going through so many rejected offers we realized we would have to adjust our expectations. This is still a ...