I had a similar strategy with my first few house hacks: buy in great A & B Chicago neighborhoods....get by with minimum cash flow, and wait...What's your plan for the next purchase Michael?

I contemplated appealing it, but I figured I would go after the PM instead, which I plan to do.

I wouldn’t purchase anything out of state without first getting a thorough inspection, establishing a trusted team on the ground, and having a solid exit strategy in case things don’t go as planned.

Fine-tuning your savings, building a reserve fund, and running detailed ROI projections will help solidify your plan for long-term success.Good luck!

Although this sounds like a great plan, when they mention training their just like other lead sources. 

Didn't she have a plan when she bought it?

If we were not able to raise the price of our homes by 20% or more we would had to stop.. my LORI plan started at 600k sold two of them and made our normal 100k net.. last loris I sold 36 months later went for 850 to 900k and we made right at 250k NET on those ones.. so it was very specific to plans that CASH buying empty nesters wanted ..

If you're wanting to get into construction managment there's two main areas you would need to make yourself an expert in; Reading plans & Scheduling.

@Diana Teng there are a LOT of potential pitfalls:(So, it's vitaly important to not just find someone that you think you can trust because they tell you what you want to hear, but you find someone that their processes seem a good fit for what you want.EXAMPLE: we do BRRR Turnkeys for clients and take numerous vides we share with them - initial, worst state of any demo, when HVAC, plumbing, electrical update BEFORE walled in, before any major payouts and of course a final walk-thru video.One thing that's accurate from all the HGTV renovation/flip shows is that you should expect and plan for surprises!

•Contractors (especially if you plan to add value).