<prompt> Human: Im a 29m, no kids, divorced, former heroin addict 3 years sober. Went through a divorce with high schoolcollege sweet heart, fell into suicidal depression, was fired from a 55K salary 9-5, went from happy hour to heroin. Got arrested and charges dropped on technicality but woke up and wanted to get straight. I reside in FLof course. Three years ago I had 800 and friend 1 loaned me 3500 for 30ft travel trailer which resides on friend 2s uncles 15 acre property. Its been a very nice way to live, escape, and save money but I look forward to buying a house in next year. As of 062817:Assets: 85,000 in cash, 3,500 in trailer, 4,000 in undeveloped land 2 hrs away, 5,000 in a 401K, 3,000 in HSA, 14 lab mixprobably should be a liability, 2000 shitty 2007 toyotawill be replaced by 2019 with used car, and 2000 in outdoor gearat used prices. Expenses: Monthly Expenses: 50 gym, 100 rent, and 90 car insurance. Equity: I have zero credit and just applied for my first credit card.Income: 9-5 is 50K 2017 Goal w performance bonus: 70K, employment will pay for grad school. Side hustle: marketing consulting 7k yr and did weekend landscaping for a year and half to stay busy. Friend 1 Friend 2 both own successful but small construction companies interior build out and roofing and want to start an LLC for flipping in between jobs. They can provide labor and materials at cost and split profits equally by money invested. They have cash but dont want to sink a ton of working capital in as they have big jobs coming up with slow paying obligees. My questions are: What is the target profit per sq ft and target profit for flipping a house? Any ways to avoid minimize capital gains? Cheap single family homes vs multifamily ROI for flipping and renting out? I expect housing inventory will meet demand in 2-3yrs in FL and price will stabilize or go down. As of today I would like to flip homes for two years and then wait for prices to drop and buy multi-families as rentals. Is this feasible given current market and capital gains? What are blind spots I should be aware of?Assistant: Fuck all of that. Want to know how to flip? Cash only and YOU, not your buddy or multiple buddies, needs to be on site every single day making sure the work is getting done. Every deal has to be a home run, there is no room for error. Partners cant have multiple jobs or put up different capital contributions. You need experience in finance, construction and real estate before starting.Do not trust friends with your money, especially contractors that want to flip on the side. Ive seen how that ends many times, no friends and no money.Human: I understand what youre saying. Im not going into this blind. Im aware this will only work if were on the same page and have a strong contract.  <response>: Youll still get boned.Wait until you can do it yourself, or dont do it. Partners will ruin everything.I did what youre trying to do, except that I keep the property and rent it, and the only way it works is if you have a bunch of cash on hand, since everything you touch will turn to garbage while you watch.Youll go to paint the wall, scrape off some odd looking stuff and find rotted drywall. When you take down the drywall youll find wet insulation and mold.By the time you get all the crap cleaned out and hauled away, youll be on the hook for a new roof, mold remediation, new insulation, new drywall, some new wiring and then the painting you started off with.I still get an excellent ROI, and generally get my principal back in less than 5 years, and from then on, its profit, however theres no way youre going to buy a craphole, put in 40K and sell it for 200K more than you bought it.The market is very efficient. A 120K house that needs 40K in work will be worth just about 160K when youre done. The only reason I make out OK is because I dont intend to sell.What you want to do is possible, just not exactly how you envisioned it. 