My wife has decided to pivot her career and is in the process of getting her real estate license. While she will operate as normal residential agent, we have another goal of establishing 15k/mo in rental revenues with a reasonable amount of cash flow. I think we make a good team, she is very personable, easy to talk to, and has good taste. I am good at analysis, process, and also enforcement :), but am full time with another project and very busy... mostly going to be relying on her to source leads.

We will be investing primarily in the Birmingham AL market. I am able to put up a reasonable amount of cash to get started.

We were thinking of doing the following:

1. $3000 budget for direct mail campaigns targeting under $100,000 homes with significant equity.

2. Partner with an experienced flipper 60/40 (us) where we source the deal, finance the thing but they manage the flip while letting us play in the sandbox and learn.

2b - If we get more than 1 lead, consider wholesaling the others

3. Identify 4 or 5 small multifamilies under 200k that proforma cash flow well and have upside

4. 1031 any profits over to a small multifamily fixer upper, buy and hold

5. Continue to search for small multifamilies that meet our cash flow criteria and dump in capital/finance as we go.

My principle questions:

Is 60/40 split on #2 doable? Aggressive enough?
In order to execute on this, I think we need: a good finance partner (just in case), a good flip partner, a gc if the flipper doesnt have one... what else?
Are there any other opportunities/strategies that we should consider?
Overall thoughts on the plan?

Thank you for anyone who takes the time to read!!!

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