Not a rookie - While I have never purchased a home without an agent, I have purchased two homes in the last fifteen years in Denver and, at some point, managed both with some form of rental income, plus helping my mom manage the independent basement apartment in her home.

Especially if you are hiring property management.

Quote from @Doug Teasdale: Quote from @Dustin Tucker: Hello Doug,  Here is the Arizona Association of Realtors Forms page.https://www.aaronline.com/manage-risk/sample-forms/residenti...You will probably need to use the Residential Resale Contract.For the Buyer as an example use "Doug Teasdale and/or assigns"  This allows you to assign the contract to your wholesale buyer.

How much are you having to pay the management companies?

Your focus on the Dallas market and Fix and Flip projects sounds solid, especially with the DIY approach and having an interior designer on your team. 

Reach out to a LOCAL property manager that knows the rental market BEFORE you go under contract! 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

However, the tax treatment differs between short-term and long-term rentals:Short-Term Rentals (STRs): If you materially participate (work 100+ hours and more than anyone else on the property), you may be able to offset rental deductions against W-2 or other active income, offering greater tax benefits.Long-Term Rentals (LTRs): If your AGI exceeds $100K, your rental losses may be limited, unless you qualify as a Real Estate Professional (REPS).If you plan to expand your rental portfolio, consider an LLC later for liability protection and easier management.

This seems like a no-brainer to me and fits well into a vertical integration strategy (I'm also thinking about managing other people's rentals as even more vertical integration (aka side money).  

For example it is my understanding that Big Bear allows it but whoever is managing the property has to live within 1 hour of the property.