I guess people are relying on the values continuing to grow at 7%p.a. in this area and will make their money on the back end when they sell.

Honestly- with that volume and the profit you should make from 24 flips, $72K isn't enough.With that many projects, I wouldn't want to rely on a 1099, I want an employee that I can actually require duties and timelines of. 

I really want to absorb as much as possible but only have about 70K in cash available, so I'd rely on financing, which I am no stranger to.

That’s why STVR managers don t rely on property appreciation to be successful. “ You can t eat appreciation”.Professional , small business owners and high income investors don t buy into syndications where syndicators dock them with high front end expenses.

Factor in potential cost overruns and delays.Financial Due Diligence: Don't rely solely on the sponsor's numbers.

What's the point in trying to invest remotely in markets where the numbers aren't THAT different and you have to rely on the honesty and kindness of strangers? 

The information contained in this post is not to be relied upon. 

Longhorn is also experienced enough (and looking out for the customer) to know that long-distance investors solely relying on a GC to stay on time and on budget can lead to problems.

He did recoupe what he invested luckily but I suddenly realized their system relies on the buy ins of both parties which means if you have to deal with shady contractors, thats just how its going to be.

Not to say you won't run your own numbers, but just saying wholesalers cannot be relied on.