How do you find mentors and (the right) property in a small city

[Catherine Franklin]

My husband and I just decided that we were going to get into REI to fund our retirement down the road and our life style, which isn't extravagant. We have talked to a few folks that we know with properties that they rent out, they suggested in our town that we would do much better if we flipped properties. They have trouble keeping renters, and keeping the places nice.

We live in a city of almost 50,000 and we know where the good and bad parts of town are, but any home in a decent area wouldn't work out with the 70% rule. How do we find the right type of property? Should we find one on the edge of a good area, or do just minimal renovations on our first flip? We just need pointed in the right direction. Thank you so much, everyone on this site is so helpful.

- Catherine Franklin