.- you bid on the property with your limited information that you were able to gather. 

I think they might have been referring to the Passive Activity Loss (PAL) limitations.

GP = General Partner (or sponsor)LP = Limited Partner (or passive investor)

That average person given limited access to a property is not going to have the experience required to know what to look for.Yes, i would have a couple of your most trustworthy contractors with you when you walk the property and i'd film the walkthrough / take as many photos as you can.With a full hour you can easily assess most of what would be needed to account for 

We don't need to "make homes cheaper", we just gotta remove the barriers and special interests that support monopolies, limited competition, centralization, corporate over private, and take things back to middle America, small business, main street over wall street. 

Is there a limit on how big it can be?

We now have rentals and flips all over NE Florida and aren't so limited but that came with more experience and learning more about those surrounding areas.Would love to hear more about what you and your husband's goals are with investing!

Many investors hesitate to start their next fix-and-flip project due to barriers like limited funding, uncertainty in market conditions, lack of experience in estimating renovation costs, or fear of unexpected delays and expenses.

You can roll the cost of refi into the refinance itself which will limit what cash you pull out. 

Those that do, typically will limit it to very small projects.