In short, the market defines a bedroom as well as other considerations listed above.As a practical matter a bedroom should probably have a closet since most buyers expect one, but techni- cally the International Residential Code does NOT mandate a bedroom to have a closet.

As you get more familiar and develop best practices, you can then go to new construction.I hope this helps.

Drawing from my experience delivering over 550 investment properties, I can say with certainty that self-management isn't practical for most investors.

That is one of my moves is to report Baselane to FTC for such fradulent practices, despite covered in footnotes in terms and conditions.

It's a good practice to overestimate costs and underestimate after-repair values (ARV) to keep your expectations realistic.

Curious if this is normal practice or in other management agreements people have signed? 

I have a call scheduled with someone on his team for Monday & hopefully that gives a little better direction / insight into best practices for new members.  

Quote from @Adam Macias: Wholesaling as it is today will be a thing of the past.It’ll truly be strange to even hear people and gurus trying to make big money off it.The more people try wholesaling but then end up not having an end buyer or cancelling contracts or trying weird things like novations, the more all of real estate will be regulated and cause requirements like licensing to be able to transact more than just your personal resident purchase.Which I don't know why hasn't happened sooner.Here's all the states (in red or yellow) requiring a license to wholesale or at least have started the process:Credit: REITipsterI think licensing and regulation is a beautiful thing that should happen if you plan to be an wholesaler and do more than one deal... which is going to be the case for anyone taking this business seriously.Or even it being regulated to need a real estate agent to do more than one deal outside of buying a personal residence.I've had plenty of failed attempts with agents in pursuit of wholesale deals and I know exactly why, it's not because the agent couldn't find me deals, it's just not practical to think there's opportunity for the numbers a wholesaler needs to make a profit on top of everyone else needing to these days.Because the only sellers who truly can sell at a deep enough discount are usually those who ran out of time and just didn't do something sooner with their situation.I know many coaches and gurus will disagree with me but there’s no regulations on youtube gurus and what they teach either.If we look at the current state of the market in hot cities, the availability of online resources to the average homeowner, how many deals can you possibly believe are available at 70% of ARV?

The one with evidence wins.As always, @Nathan Gesner coming through with the most solid and practical advice.If you have issues with your PM, be very direct and state your case.

Here are some practical steps and strategies to consider:## Single Family and Small Multifamily HomesWhen looking at single-family and small multifamily homes in northern Illinois and southern Wisconsin, make sure to analyze the local market trends, rental yields, and property appreciation rates.