For those interested, a combination of mortgages with no “due on sale” clause, mortgage companies loose due diligence, and title insurers willingness to “turn a blind eye” to practices that wouldn’t pass scrutiny now, resulted in tactics like the “second mortgage crank” which not only allowed investors to purchase properties with no money out of pocket but allowed investors to actually walk away from closing with “cash in their pocket”.

From my experience the first team member to recruit will be a local Project Manager-someone who wants to help you long term as your eyes in the field and boots on the ground. 

Too many just get $$$$'s in there eyes and take on anything and everything. 

If your manager is just 'keeping an eye' on things, collecting/reminding on a few rents here and there and some light cleanup while being compensated in free or reduced space rent then classifying them as 1099 subcontractor is great. 

Screening and placing a tenant, they know local rules, they have eyes that can see the property and know what is going on there.

I'm still actively searching for a solid contractor as I eye a BRRRR in early to mid 2025

I’ve lost a lot of money on my 3rd deal, and it was very distasteful.I am keeping my eye open for better strategies, just haven’t found one that’s fits me better than BRRRRR at the moment.

We haven't found that one thing that has really worked great to catch a ride on the momentum. 

I’m currently going through the process of getting a HELOC and feel confident we’d be able to fund a purchase using that but using PML has ultimately been a goal of mine and would like to incorporate it into one of these purchases if possible. 

Understand the local permitting requirements, keep eyes on your property to avoid squatters, and make sure you have a great vacant insurance policy while you're renovating.