@Erik Whiting that’s a good play but even construction costs have gone up making the number slim.

It is super slim picking for small multis here- and even fewer that actually make sense numbers wise. 

While an accurate SOW can mitigate these risks the likelihood of an investor beating a contractor at change order management is very very slim.

Im from NYC as as you know the rental income to property price can be pretty slim so I'll most likely invest exclusively out of state.I wanted to get a really good understanding of how out of state investing went for you.

Unfortunately the picking is very slim in my market, otherwise I would have passed on this one and moved on to the next one.

. $300, at best, to account for vacancy, CapEx, repairs, etc. is far too slim to create a cash flowing property.

The chance of them being out a job is very slim.  

We both made slim profits and was my first real deal.  

@Rich Metteer that's good to hear, I just didn't want you to be like this guy https://www.biggerpockets.com/forums/12/topics/776300-trying-to-acquire-a-loan-as-a-bartenderAs far as what to do I would probably go the rental route, flipping margins can be slim in SoCal even more so when hard money is involved and you don't have established contractor contacts.

Its rough business, slim margins and tons of liability from what I see.