Please critique my gameplan when it comes to wanting to flip my first property.

[Kevin Moise]

I am 24 years old from Ft. Lauderdale, Florida and two years out of college with 80k saved with no debt looking to flip a house for the first time. So far I have contacted a decent real estate lawyer and had them recommend contractors to make sure I am not getting screwed over and the help me through the process and hired a CPA. Getting hard money lending for the property and flip but still shopping around. I tried looking to flip in Florida but everything is much more expensive here compared to anything else out of state and I know its riskier to flip out of state as well.

Before buying I need to

• See if I am buying in a good area/decent market (looking in the midwest specifically).
• Look at comps.
• See if the house is flippable or a money pit.
• Inspect home
• Termite inspection
• Foundation issues (I am only buying a house connected to the ground not with a crawl space)
• Structural issues.
• Roof issues
• Bad ceiling (uneven ceiling, popcorn ceiling)
• Window problems
• Electrical issues
• Plumbing issues
• AC issues
• Mold
• Leaks
• Might sound weird but too many crack on side walk or driveway.
• Actually have a contractor go through and see if it is flipable or not. An estimate cost.
• Do a survey
• Always run the numbers so that they make sense. I work as a financial analyst so I have my own excel sheet and also will have to communicate with my CPA so everything checks out.

Hiring a contractor

• Get a reputable contractor(within budget) from asking around. As said before I am talking to a lawyer about that.
• Get everything in writing (legal documents) before starting and have the CPA record all transactions between contractors and I. Also make them sign a lien waiver so they can not say I did not pay them.
• Set up an account with wherever materials are bought so I am charged directly and contractors dont stiff me like how they would if I gave them money directly to buy materials.
• Looking for a contractor who will not need a deposit to start as I am planning to pay in phases for labor but I have been thinking about just paying for everything once their all done (I am kind of paranoid about contractors lol)
• Hire two different inspectors to see if the house is actually good when done.
• Currently want to work on 2/3 br houses so I am trying to get flips done in 3 months.
• Prepare for unexpected costs.

Selling the house

• Maximum market exposure - MLS, zillow, etc.
• Get good realtor recommened by lawyer.
• Make sure the price makes sense and have a lot of high quality pics of the house around 50-75 pics.
• Make pontential buyer sign nonrefunable earnest money contract.
• Examine all offers

What else am I missing or should I change?