Buy, flip, hold?

[Joseph Shevy]

Just curious as to who out there does this? Find SFR's, multi's, etc. that are distressed and needs some work, buy for below FMV, fix it up, rent it out, pull the equity out and repeat. I'm sure it doesn't work out "just like that", but it seems like a route I would be interested in. I just purchased my first duplex on Mar 31 of this year and am living in one side while renovating it, and renting out the bottom apartment.

I've seen quite a few good deals around here on SFR's and multi's that can be fixed up for much below FMV. Just wondering what everyones thoughts were on this and how others go about this sort of thing.

Thanks in advance for all the info!

Joe