@Randy AchiTo start flipping houses, learn fundamentals through books, podcasts, and online courses, build a network, start small, and practice repairs.

Quote from @Addy Chupa: When analyzing deals, I usually include a 5% vacancy factor and 5% repair factor based on annual rent.

I have managed these properties from renting to leasing/repairs etc.

Do you know if your PM upcharges on all maintenance repairs?

Feel free to reach out if you need any insights or assistance with DFW properties.

I run sum numbers for you please see comments below before refinancing and post refinancing .If I were in your position, I would approach it as follows:Initial Investment Assumptions: Market Value: $360,000 Purchase Price: $360,000 Equity: $0,000Financial Breakdown: Hard Money Loan (LTV 100%): $360,000 Interest Rate: 10% (30-Year Amortization) Monthly Payment: $1,995Upfront Costs: Origination fee (1%): $3,600 Closing Costs (3%): $10,800 Renovation Costs: $10,000 2 Month of Carrying Costs During Renovation: $5,390Total Upfront Required: $29,790Total Capital InvestmentPurchased price $360,000 Upfront Costs $29,790Total: $389,790To make this investment work, you need to rent the whole property for at least $3,165/month, refinance it let say after one year with 5% interest with a traditional mortgage.Year One Rent: Monthly Rent Income: $3,165 Monthly Rent Losses during renovations (2 Months): -$6,330 (-$527/month distributed over 12 months) Total Rent Income: $31,650 per year => $ 2,638 per monthMonthly Expenses: Hard Money Loan Payment (10% Interest): $1,995 / per month interest only Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $292 per month Assuming 0% Vacancy first year Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $2,637Monthly Net Cash Flow: $1Post-Renovation Refinancing Strategy:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate your initial investment of $29,790 plus your 360k debt into a mortgage.

I have had to put students on a repair program to help them after doing this very thing.

For a new construction that the house will last at least 50 years before major repairs, we were pretty happy with the current result.

You can even use a really fine-grit sandpaper.This video demonstrates how she repairs a stainless steel sink and it includes before/after images for comparison at the end.

Start with simple repairs, plan for vacancies, and ensure professional inspections.