Another thing i heard is the houses are older so once they move out, I'd have to spend 10-15k to rent to new tenants and all the cashflow I've made before goes away.

However, lots of older homes that either need a lot of work or would require a lot in the near future.

The 401k I used to have said if I default it didn't negatively affect my credit, but that it would become a taxable event like a withdrawal (come tax season) and I would have to pay penalties for the amount I had remaining. 

Getting to point #3 on this, I think this happens artificially to a degree due to the amount of agents withholding properties in Q4 of 2023 because of seasonality.

@Kristine Ann, even under the "older" system in Alabama, winning bidders do not get a quitclaim deed.

We do not have any minimums - although we do have seasonality here in Tampa, our units are active and get activity year round so it is not really necessary. 

Most agents aren't worth their pay, so it's going to be the cheapest one to get me the basics contractually as the investor but as a first time homebuyer or someone not seasoned you need their intel & savvy.

Most older homes in SC are ventilated and breathe fairly well, so mold in the living space/attic typically isnt an issue unless there is a water leak where there is constant, excessive moisture.

@ J Scott would you say that FTF flip is a good route to go for newbie investors or do they only work with seasoned investors?

The insurance market is very tight right now especially on older buildings.Many carriers who have policies on the books will not accept those same properties as "new business" or if they do the rates are 2x-10x what the current policy premium is.