@John KellyIt's probably best to consult with an experienced CPA about this.

@Fiona Layne-GerminBeginner-friendly strategies for building long-term wealth include house hacking, buy and hold rentals, BRRRR Method, real estate syndicatations, rent-by-the-room strategy, short-term or mid-term rentals, and partnering with experienced investors.

U can explore but if you actually want to do a project like this you will need to bring in someone who is experienced and bankable.

When funding is plentiful and flips are rare, the competition will be heavy and experienced flippers with teams will take smaller returns just to keep their guys working, which means inexperienced 1-man crews will be shut out of the market.

Having a safe forum for LPs the share their experiences is needed.Cheryl  In EVERY business there are two kinds of market participants; the people/companies in it for the long haul, through both good and not so good economic times, consisting of EXPERIENCED, PROFESSIONALS whose careers are dedicated to and dependent on fulfilling the needs of their clients/customers.The other type of participant are in the particular business because it’s OPPORTUNISTIC for them to be in it AT THE TIME.  

My advice would be to focus on networking with experienced investors, contractors, and lenders in your area, as building a strong team is key to scaling efficiently. 5 -10 properties is a great goal!

After multiple calls and emails about the matter (even involving the local HUD office), I finally get a response that says "Unfortunately, HACW is experiencing a temporary shortfall of funding and will be unable to pay the HAP amount for this month..."

It depends on the rent amount and the difficulty of renting in your area, but I'd generally suggest something more like 50%-75%. 

Our goal is to purchase multiple properties in good neighborhoods with ARVs up to $250K.We’re eager to connect with experienced agents, reliable contractors, and any other local experts who can offer insights on building a successful portfolio here.

Especially with the obvious consequences of inflation and the money creation we are currently experiencing.