Its hard for me to equate the effort and financial risk in fully leveraged rentals.

To answer your question condos are better if they allow it but if you want to hop right in it with less risk I would go for a house or multi family deal.

This approach will help minimize the potential financial risks associated with renovations and working with contractors.

I’d suggest starting there, or if you’re comfortable with Excel or Google Sheets, customizing a simple flip analysis template yourself.Final Thought:Since this is your first flip, starting with a modest project can help you learn the ropes without risking too much capital.

Also, I have yet to see anyone discuss call risk with these.

You have to be honest with yourself, understand the risks and assess if you can afford the negative cash flow.

Hi Paul,The main risk with buying a wholesale property is that they're usually sold as-is with no contingencies.

And if you make it a quid pro quo, don't you run the risk of violating the OTA's policy of paying to alter reviews? 

Although this is a long term investment and not in the main stream, it has added a certain level of comfort knowing the above potential investment risks are to a degree reduced.

But the one thing that you can control is your creativity and how far are you willing to go with risk .