The Zestimate is worth zero, btw. Don't even look at it. Go do a real CMA of some kind and see what stuff sells for in the neighborhood, then come back and figure out what it's worth to you.
+1.
And even IF the Zestimate was right, this doesn't even meet a standard 70% rule for flipping if minbid was 130k. That's not wholesale. Pass.
Am I missing something huge in my shortly summarized logic?
Flipping math. Check out J Scott's BiggerPockets book on flipping.
Okay thanks for suggesting a book, since my last post I took the time to fully read and understand the following books from my local library:
1.) Building wealth 1 house at a time - John Schaub
2.) The millionaire real estate investor - Gary Keller
3.) Investing in Real estate - Gary Eldred
4.) FLIP - Part of the millionaire real estate investor trilogy
5.) HOLD - " " " " " " "
6.) The book on flipping houses - J Scott of bigger pockets
7.) The book on Estimating rehab cost (More of a reference manual...- J Scott
Probably saved me a ton of money in the long run, so again, thanks for the book suggestion.