@danyael wrote:In addition to my previous question, what advice does anyone 'in the know' have for me? I appreciate anything you can offer!
One thing: if you are actually going to be netting $40+k in one year, keep doing it - that's somewhere around a 50% profit in just one year.
Regardless, I felt compelled to inquire, in light of the first sentence, whether you took the improvements and selling expenses into consideration when you arrived at the ~$40k net profit.
Hopefully, you are aware that you would add the $28-30k in improvements to your $52k cost basis and then subtract that figure from your sales price less selling expenses (primarily commission). So, if your selling price is somewhere in the neighborhood of $130k, then your stated profit figure is roughly accurate.
