Stay away from electric heating - this is a tip for all investing to be honest. 6.

I am  realtor and my husband is a contractor- we want to get a heloc on the condo so we can begin out first flip together and be able to use the funds when we need and then put it right back after closing.

I plan on taking some introductory classes for plumbing + electrical + carpentry + ???

Hello BP,I've been working as a Gov contractor providing Cloud Engineer services for a while, but my true passion is commercial real estate.

I understand a fixer-upper would require a lot more work in accurately determining repair costs, finding good contractors, etc., but I think the learning experience would help set me up better for future deals.

Add at least 15-20%Determining ARV is key.Be upfront with your contractors.

Based on the local market, $15k for renovations seems light—have you had contractors confirm this budget? 

Electric baseboard is expensive and takes a while to warm up so on and off doesn't work.

I have meetings with my lawyer to discuss partnership contract and acct for the financial piece.Since this is extremely new, I am building a team of a contractor, broker, loan officer, accountant, Lawyer and investors. 

I have contractors and home warranty for each of the 8 doors.