@Geremy Rosenberg one of the best rules I was ever taught - "An investor makes their money when they buy".Negotiate hard on reducing the sales price because even if you get bids from contractors, there are ALWAYS surprises that drive up the rehab costs.

First of all, don't be surprised if the CPAs (if not experienced in RE investing) tell you you can't self direct, or that you shouldn't because it's too risky.

Like @Greg M. mentioned for those 'in the industry' it isn't really a surprise, nor is it expected to get better for awhile.

And the loan wouldn't be non-performing if it was properly underwritten.I was a little surprised by the CFPB opinion.

Christaye, Wow - I can't say I am surprised!

FYI We looked at purchasing one that was operating already with a lease and I was really surprised how hostile banks were to the concept--they viewed it as a risky and potentially reputation damaging business.

Really needs to be curated to be helpful.It probably doesn’t surprise you that twice as many flips are bought on market as off market.

And you would be surprised at how often it gets used during the summer as well. 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

I was just there and surprised to meet many Colombians and other South Americans working there.