https://www.biggerpockets.com/blog/live-in-flip

You will essentially be buying a pad site so you would have to build new.Also realize what you will pay to insure that in the future as part of your costs

I plan on doing the site seeing before the conference.  

@Brandon Yuan make sure to visit the Texas PUC site too for guidance on implementation.

But the contracting businesses get 1/3 down at contract signing . 1/3 when we start on site , and final upon completion . 

This is a really good article that has a lot of questions to ask any potential property manager so I would start there: https://www.biggerpockets.com/blog/questions-to-ask-a-proper...

This article gives a very helpful starting point.https://www.biggerpockets.com/blog/core-four-real-estate-teamThere are a lot of markets that do have a large selection of MFH that cash flow.

3) Do you have any experience on auction sites for foreclosed homes? 

One site says you are limited to 5% while another says 10%.

Also, check out this BP article: https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...