That's what I was thinking regarding the property to marginally cash flow but definitely don't want to lose cash every month, that's obviously not smart.Thanks for the response!

And your margins will likely look better too.

He made a killing in those margins by driving the land cost down for the builders.Not sure if that's something you'd be into but figured I'd offer the suggestion.Good luck!

It seems like that would eat into my margins a lot. 

I also invest in Indiana and don't see those large margins - a flipper there might make $10,000 to $40,000.

My margins are small right now and if I have to pay a bunch of income taxes they basically vanish so I'm trying to figure out how this will work and what options I have.Thank you! 

PM’s I’m not defending the unlicensed plumber but that’s how so many of those companies make margin, if you want someone licensed the easiest way is to self manage a property (I have a duplex 1.5 away I self manage, have a great plumber, he’s literally replacing a hot water heater tomorrow while I’m 1.5 hours away) as far as the future, it’s really important to try to take the emotion out which I know can be difficult, is this a property that has had issues but can be corrected and become a profitable and relatively easy property to manage.

There's just not a ton of margin, and IMO not worth the hassle.

You should be able to pull up a property on the MLS, zoom in on the map, and feel familiar enough to know if it's in a good area, marginal area, or bad area because you have first hand experience seeing it.

And unfortunately, with the low margins in SFRs in basically all markets, once you add in $1k-2k per year of travel cost, you are likely to be cash flow negative anyways.As for me personally, it may be the level of control that I seek or lack of trust that anyone knows what I want as much as I do, but I would never buy a house sight unseen.