Keeping your budget under $400K is reasonable, but definitely run the numbers on both rental scenarios to make sure each cash flows.

Definitely get multiple bids both for cost comparison and rehab approach comparison.

Definitely not for the faint of heart!

Hanging around people that are actively doing it definitely helps. 

Suburbs different story, but have definitely had more crime issues in Cleveland than Lorain over the years. 

thank you very much. a lot to digest. it sounds like if my Solo business takes my existing 401k (only 401k funds I do not have roth funds) and my business pays me to flip homes and consult, then i can put my funds directly into the 401 solo plan. i will definitely reach out to my accountant as well. 

I like the discussion though, it's definitely good as I think about my younger children and how to get them involved/interested in real estate.

MTR is our play there.Vegas can definitely be a tight market for flipping, with competition driving up prices and squeezing margins.

So I think it's pretty much like getting any mortgage, but there is a definite lack of communication or clarity from the selling bank (VA).

For this one, I'd say a fix/flip is definitely the "easier" way of getting into the game vs. new build but it still has its pros/cons.