But keep in mind if your using money you cant afford to get back then buying action property might not be appropriate for your current endeavors and its better to just buy open market were you can do proper due diligence and know you have a build-able site.

I was going to do this, but I changed my mind after talking with my target demographic (my kids).

Plus, we had a family in mind that were looking to rent a house.

.- Tenant submitted a work order for low water pressure in 2 bathrooms- Tenant submitted a work order because the garage door doesn't close all the way and left a 2-3 inch gap at the bottom- Owner initially refused to address either work order- Owner demanding the tenants place furniture pads on each piece of furniture- Owner calling multiple times to speak through the work orders, asking when they've been scheduled, calling a couple days later requesting the invoices- Owner calling because they want to access their storage in the basement so they can remove several pieces of furniture being stored- Owner now emailing requesting multiple property inspections throughout the lease cycle- Owner questioning my experience and relative PM knowledge because I'm not following up with her in a timely manner (the following day after the work order)Keep in mind, this is 2 weeks after the tenants had moved in and the tenants are very happy in the home.This is something we see on a regular basis.

Sellers rarely mind the low deposit and extended closing period due to the nature of the property, or at least they can be made aware of the fact that their lot has issues that will take MY time and MY money to solve and then they come around.My terms on the flip are: Minimum 10K spread between purchase and flip value.  1-2K deposit upfront to hold the property for 7 days then the deposit becomes non-refundable after the 7th day and the buyer has the same amount of time that I originally negotiated with seller typically 8-12 months(its a purchase contract but because of contingencies its essentially an option).  

Keep in mind that this is also a very tough time to be entering the market as an agent because the inventory is so low.  

Networking events, seminars, and workshops help you connect with like-minded individuals and mentors.

Keep in mind you will be selling to an investor so the pricing won't be a high as a vacant property.

Don't buy a 2br/1ba without a basement and no garage on a corner lot next to the scrap yard, just because it's cheap and the seller is motivated.

But keep in mind all these options still require logging your driving trips, and having a home office if you're claiming trips from home to the rentals.