He bought the property pre COVID, so his cash flow is definitely going to be different than what mine will be.The question I'm wondering if its a good idea and if the numbers make sense.Purchase Price: $100,000Down payment: $20,000 (20%)Current cashflow: $900Property manager: $90 (10%)His expense for 12 months was only $1,430 (inspections, repairs, management, eviction services). 

(Be sure to factor in vacancy, PM fees, maintenance, etc in addition to PITI)•Do you have additional reserves to cover unexpected expenses like long than expected vacancies, high turnover costs, or major repairs (e.g., HVAC or roof replacements)?

Let them know that there will be routine quality control checks/inspections so that if your third party inspector finds any issues with quality, the GC will be responsible for paying for the correction.These are just some theories that I think will help and plan to implement when I operate out of state flips.

Aha yeah I dont really trust flippers to do the repairs correctly - Even with my own flip I was tempted to cheap out on it but you always pay for it in the end!

A HELOC will not allow you to deduct I believe on the interest unless the money is utilized for repairs on your primary residence and not to buy another home. 

Maybe have a decent sized pool of cash to take care of the occasional roof repair or personal expense, but almost entirely in real estate?

I had a full inspection and there were some minor repairs done before the tenant moved in. 

I'd two project worked with Robert Mincey, 1.For one project it have serious defect that scares my buyers away, when I ask him for the repair, he told me that I did the sabotage to the property myself, and he owns 0 responsibility for the repair and warranty2.For another project I wanna to fire him but he states I owns him more than $5K even though I already paid him 200% over what he had completed.

I’m an electrician and I’d only do electrical since I know I could do it fast enough to be worth it but other than that I’d get someone who could do it fast and high quality.

Add in property manager, repairs/maintenance, CapEx, vacancy etc and you will be deep in the red.