Seems like you took an honest, considerate approach.

@Brian Nally I like that approach!

I would recommend getting the basics of the basics on the process before approaching a mentor, save them for the advanced stuff :) This being said, you shouldn't have a hard time picking this up if you know how to manage a project/crew.- find a home that needs repair, preferably off market so you don't compete with retail buyers.- walk the property with a contractor or specialty contractor(s) (electrician, plumber depending on the issues) to get an estimate(s) of the rehab.  

As you fellow Investors and Small Business Owners approach the end of 2021 and may be considering outsourcing… -your monthly bookkeeping-a full 2021 books cleanup-or, even having your books professionally set up for the first time (I’ve been there) … Here are a few introductory questions to consider asking when interviewing a myriad of Bookkeeping Professionals to see who is the best fit for you and your business(s). 

However, if the seller is not open to that, the best lenders to approach for smaller deals will be local or regional banks, or credit unions.

@Wendy Williams yeah, that’s the conservative approach and there’s nothing wrong with that if it aligns with your personal goals and sitaution. 

The Extensive rehab inclusive of an ADU addition would be about 90K for a 2bed/2bath unit (1500 month rent) with a 1bed/1bath unit (800$ month rent).  450$ a month in cash flow more background: I live and operate in a small rural market doing most of work on my own rehabs, kinda the one project at a time approach. 

If you have NOT been sued, then you can only hope that your no-LLC approach is good enough.To clarify, I'm neither for nor against LLCs.

Doing away with a pool is an expensive proposition and in many cases could approach $10k.

Then I was approached by an agent who pitched the strategy of purchasing a new build town home and renting it out by the room.