Fix and Flips get a lot of glam as quick way to make some money... but if you don't know how to mange the project or vet contractors or do the work yourself it can eat up all your capital quick.

Hard money will eat profits.

You should check out some of these places to eat while there.

Business mogul Gary Vaynerchuck talks constantly about "eating dirt" for a period of time so that you can reach your goals in the future.

Transaction costs in both your strategies will eat you alive. 

Anything meaningful that is going to eat you alive in capital costs into the future and take away practically all cash flow the turnkey seller on low end properties hardly ever touches.

The price point at which you would be able to afford these properties means that average rent would be roughly 5-600 per unit, which attracts low quality tenants, and means that neglected repairs and capex items can quickly eat into any profits that you may think you are getting. 

I didn't give up though I kept calling and I finally got that call asking me to come over they were ready to sell I came over, and it funny because I remember listen to a podcast #77 and someone saying if they offer you something to eat you already have the deal, and they offered me pizza lol.

Some tenants will buy the wrong salt that eats away the concrete.

Ideally we'd like to leave the peninsula completely open with a eat in bar behind the stove.