There might be a couple of exceptions I can think of in DFW area. 

I then bought another SFR, a couple of duplexes, a 4-plex and invested as a partner in a 13 unit.

I have dozens of clients doing this in New Jersey most of which come from no construction background, they simply use preferred vendors we have in place (not GC's) which lowers renovations cost because there is no middle man. 

Thanks Reese, I will definitely take a look at your posts for more information, I’ve been reading multiple real estate books in the last couple of weeks, but definitely will leverage from your experience!

Check out your local Salvation Army, they always seem to have a couple in decent shape for $100 or so....

Looking forward to my visit in a couple weeks as we continue our research for an STR in the area. 

A couple expense assumptions:Insurance: .6% of market value per year ($1300 to $1700 for garden variety SFH)Repair buffer: $50/moPM: 8% of gross rent + 80% of first months rent HOA: Ranges from $0 to $50/mo.

Going through and underwriting a couple of SFH BRRR opportunities I've came across in the Indianapolis MSA, specifically Marion County. 

Company first, flip a couple homes first, etc.

@Jessica ZolotorofeHello From the Future ;)Ive spoken to a couple title companies, and transactional lenders and I have not heard about double closings/backtoback closings being illegal.