Do you know how to relate to neighbors in the community?

This all comes down to how you're structured, how the flip cost were accounted for, if there is a partner (you mentioned "we").If it is an S Corporation and you "distribute" or "sell" the property to yourself, if there is any loss on value, which probably there isn't, know it most likely won't be deductible if it's a related party transaction.  

If you buy an outdated smaller 2bd/1ba home for $150,000 in an area where remodeled 3bd/2ba homes are selling for $300,000, and you know it will cost $50,000 to update the home and add an extra bedroom and bathroom, you can be relatively sure you will be able to recoup your investment. 

They shared a lot of their personal and investing journey, lessons learned and successes which made things relatable.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Agents, buyer/seller, insurance agents, attorneys, title companies, inspectors, lenders, mom & dad, relatives and so many others. 

The new property would be a primary residence, so you would get the best mortgage terms available for your particular situation, including relatively low downpayment options.

Knowing people and human nature you find out by the time you reach my age that there is no such a thing as predators caring for sellers.

For enhanced returns on a RELATIVELY passive basis, I have had success with FURNISHED LTR, as well as 3 - 6 month leases.  

The city still has relatively affordable entry points, with most of the deals I'm doing falling in the $80k-$90k range and bringing in $1,200-$1,300 per month in rent.