I dislike PM companies or at least the ones in my area.  Due to that I have been mulling over the idea of forming a Property Management co-op.  Essentially, I would find 5-10 other investors who also don't like our PM...

A good agent will point out as many flaws as he can see.If you still like it, hire a state-licensed home inspector. 

Pay attention to conversations where you uncover someone is a contractor or works in a specialized trade.

I would renovate and begin renting out the home and whatever profits come from the rent, would go to her.Are there any flaws to this plan?

But wait a minute...I think there is one flaw in my reasoning: C class properties typically have higher cash flow after factoring in the higher maintenance...So maybe the higher cash flow in C class properties offsets the higher management cost?

Pay attention to conversations where you uncover someone is a contractor or works in a specialized trade.

I used an auto generator to uncover the lead.

I think a lot, especially when reading, listening to youtube/podcasts, or even just laying in my bed before I go to sleep.For anyone that wants to, please step in and tell me where the flaws are in this plan.

Pay attention to conversations where you uncover someone is a contractor or works in a specialized trade.

My questions are these (a) what are the flaws in this strategy, and (b) how are my gains taxed & are there strategies for limiting that tax amount so I can reinvest more of it in additional properties?