I am inclined to choose this option.My business plan is to wholesale the first few deals to get money in my account, then to buy, rehab, and sell (flip); holding every 4th or 5th deal for rentals for the passive income.I am seeing talk about operational agreements; since it is my Mom and me starting out, and I will be making the decisions (with abundant input from Mom), do I need such a document right away (I looked at LegalZoom.com, and IF I were to use them to set up my LLC, one of the documents I would get is an operational agreement)?

And because he is already a depositor with the bank (with almost a year of banking with them), the bank is more inclined to give him a secured line of credit.Now...he has repeatedly done this several times so much so he has over $10M line of credit from several local banks.

If you are so inclined, feel free to write a review on the BP thread for that purpose.J Martin- Thanks for the comments.

I could just put a set of W/D there for the tenants to share and save on all the extra per flat renovations.The other issue is that I will eventually condo convert this building, so eventually they will be sold to singles or married couples as starter condos.My inclination is to save the money, thinking that a W/D in the garage shared by only 3 couples/roommates is not so bad.

Any European certified bank will lend for French real estate, though in reality the French banks are of course more inclined to do so.

I think I am slowly coming to some of the realizations that you highlighted; I am just naturally inclined to look for benchmarks as this is what I have learned in Finance.

Do I get a little more aggressive in an inclining market and more passive in a declining market?

My first inclination was to just find a house for a good price and learn as I go..but I'm seeing the value in a methodical/measured approach. 

Instead I am more inclined to think this home is worth what someone will pay for it.

I have seen a few deals that meet the 2% rule, but they usually are in low end properties that require more management and hassle than I am typically inclined for.