We signed up with the HERO program through a contractor called Elite Home Energy.

Unless you are incredibly confident in your reno assumptions, I'd recommend getting a contractor out there ASAP to give you an accurate reno estimate if you want to go that path.

However, as long I keep good records, I can still correctly report my income.Here is the link to the Flat Fee Program. https://vrgne.com/flat-fee/Here is the link to the Independent Contractor Agreement:https://thevirtualrealtygroup.com/VRG-ICA-OPPM.pdfIn summary, after paying the annual membership fee of $327 and $595 per transaction fee, the agent gets to keep 100% of the commission. 

I was very fast and scheduled 3 contractors the next day. 

I'd like to build on it (if anyone familiar with the area has a contractor they'd recommend I'm collecting names!)

My first thought would be to see if I can land one of these specs, have one of my contractors finish the last 15%, move in this myself, and then list my current primary as a rental property. 

Our contractor mentioned that there's a possibility of adding an extra 1/2 a bathroom to the upstairs floor, turning the property into a 3br 1.5btr.When we asked our agent his thoughts, he mentioned this wouldn't increase the ARV of the property much as we're already maximizing the ARV in the area.Would love to hear from fellow investors in the area what your thoughts are here, not only from an ARV perspective but also by how much could it potentially increase the rent value.Thank you so much! 

Don't do sub2 a land contract or agree to a wrap. 

Great post it is very good to see a contractors contributing on BP, I know and understand how busy work can be.

Talk to inspectors, local contractors and start walking properties (ask a local investor if you can tag along if they have projects in the works )- you start getting a sense of how much renovation costs are, what are major safety issues and what's minor, what your offer price should be, and the ARV.I can't speak to the mentorship program since I'm not in it.