Thus, as I am at this point a ‘hobbyist’ and not a professional I presumed I would simply report whatever minimal profit or loss realized on this first joint flip project as pass through income.

I’ve been actively seeking mentorship opportunities in Dallas, diving into real estate literature (including David Greene’s BRRRR method), and connecting with others who are passionate about achieving financial freedom through real estate.If you work in IT, are based in Dallas, or simply want to connect, I’d love to hear from you!

Or are you simply looking to get into something turnkey, and just stick a tenant in there with good cash flow?

I thought the same thing and scaled up rather quickly to 300 units in deep south 95% section 8 after about 18 months I realized I bought myself a job that was simply not worth it..

I have tried to read and research as much as possible along the way, but am discovering that there is a lot I don't know, so I am still learning as I go.  

But if you're simply planning on reinvesting all to get the best return possible you might also want to think about a diversification exchange where you sell one property and buy more than one.You could buy that smaller land locked piece. 

We opened the drywall and discovered duct tape was holding the pipes together.

However, often it's simply miscommunication.Policies on initial consultations vary widely, and mine have changed more than once over time.

BRRRR deals, buying properties that cashflow and appreciate and simply partnering on a easy.

@Jack Mi: my first impression is anyone that is buying a deal at a 4.5% going-in cap rate with 7% interest rate is anything by conservative.Now, there are so many details missing that it is impossible to give any true thoughts.The things I like:No up front fees, so less motivation to simply transact10% Co-invest is pretty good80/20 (assuming there is no second hurdle) is fairly good.Things that give me pause, based on what is actually presented:Going-in cap rate is very slim.