Having your financing lined up is essential because many properties receive institutional bids.

what were some things that drew you to these specific properties?

Long story short, I have no primary home and the property the guesthouse is being built on is a LLC with 3 years remaining of 20k PPP.

Hey Stepan,In today’s market, finding solid flip deals requires being more strategic with property selection.

As you alluded to, sometimes a passive note investment purchased for monthly payments “goes south”, and becomes an active participation investment, with plenty of additional capital required for legal fees, forced place insurance, and property taxes.  

The property had foundation work done just prior to the sale but continued having problems, even after I hired a second contractor to correct.

Search for properties listed 90+ days.

If the property is considered non-warrantable, you should still be able to do a standalone 2nd mortgage at 75-80% CLTV on an owner occupied nonqm 2nd mortgage. 

Similarly, if you put several Class D tenants in a Class A 4-plex, what do you think will happen to the property?

I have over a hundred rental units I own and operate in Utah everything from homes and condos to larger multifamily.Salt Lake County has higher property taxes and is basically built out already and Ogden even though you can find good opportunities in the long run it won't be able to compete with South Utah County or Eagle Mountain.