I just don't see very many here in and around the Kansas City area that have any built-in equity from the jump; so, in general, if you're cool with having cashflow over equity and have a very long-term strategy, AND you have plenty of liquid capital in reserves for incidentals and such then by all means, give it a shot!

I personally feel like there is a lot of demand for real estate, and that interest rates may simply curb demand enough to keep things flat instead of triggering some kind of fire sale (although that could be cool!). 

Even when you just over see the property you need to keep stocked on tp, paper towels, salt, pepper, spices, cleaning up the grill, etc.

I would think making one LLC to handle the contracting and one to handle the flips would be smart, but if someone could give some guidance that would be cool!

Cool thing here is the IRS lets you use any reasonable method to allocate between land and building (they call the building the improvement) It’s going to depend on the specific situation what is going to be best for you.

Real estate market in the Bay Area is cooling. 

I know it's not cool, but that's kind of a reality. 

Seems to me if the owner is cool with it and the numbers work, why not. 

I think it's a cool and proactive approach, as well as a number's game so it may sensible and effective for some snd not for others.

It got me thinking about the nuances of negotiating with people in general, and I thought it might be cool to hear some quick tips from others that have been useful when negotiating.