Then I fix them up, rent them out and refinance.

If not fixed I have seen people sell for double what the work is because they need to take on the project once closed. 

I have been doing fix-n-flips throughout COVID, but I have always been in the market area to manage them.   

I prefer deals where the syndicator gets a fixed % of the profits. 

If calling a plumber to fix a real leak is going to kill your reserves, this is a bad deal on a property and bad cash flow.The first thing to learn as a landlord is that everything is your responsibility to cure.

He spend $3k fixing it up, rented it for $700, but lot rent was $300.

I believe that the Federal Reserve is going to cut rates by 25-50 bps at it's September meeting (no emergency cut), but that 30-year fixed rate mortgage rates will rise to upper 6s low 7s around the same time, and Commercial borrowing rates, including for multifamily, will increase as well. 

Always be in front of the contract and prioritize where you're buying and entry price. lf all those are three in your favor, you have a lot of leeway with some of the normal but difficult parts of a fix & flop/hold.

I have a lot of clients where I only get their DSCR business, but not their fix and flip. 

Then find matches for that product that you are able to buy at a discount.