Find a house that comes up on the wholesale list that has a lot of bedrooms and buy it as an investment property with a hard money loan.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

As for holding properties under an LLC, there are definitely pros and cons—it can offer liability protection and tax benefits, but it also comes with additional costs and paperwork, so it really depends on your goals and risk tolerance. 

They were referrals and the business started to grow simply because I had a competent team that was responsive and looked out for the owners' best interests.

The seller gets paid in full . 

The biggest hurdle you'll have to overcome is accepting breakeven or negative cash flow at the start. 

What areas do you find the best ROI on your flips?

Yes, I’m a fan of harvesting the equity built up in properties.

As you move up the price chart there are just fewer and fewer renters.