Please DM me if you would like to chat on our current projects  in those areas including market conditions, leads and lead generation.   

These platforms can integrate with your bank accounts, track income and expenses, and generate reports, simplifying your record-keeping.Regular Financial Reviews: Schedule monthly or quarterly reviews of your finances to ensure everything is in order.

The 50% rule states that approximately 50% of EGI will typically be consumed by operating expenses.While the 50% rule provides a quick estimate, actual expenses can vary widely depending on the property type, location, age, condition, tenant mix, and market conditions.Here's an example: if a property generates $200,000 in EGI per year, the 50% rule suggests $100,000 would go towards operating expenses like taxes, insurance, utilities, and property management.

It certainly generated some interesting and fun to read dialog.

My idea was to establish myself with some paid-off, cash flowing properties to make leveraging them for more investments a lot easier.I'd like to flip some houses to generate some cash, but  even knowing what I know I'm struggling to see how to make money doing so. 

That will generate a massive tax bill.

Of course, if you then generate additional taxable income, that is something you can work to mitigate with your CPA.You could choose to form a self-directed IRA and invest the money directly into real estate.  

Finding it difficult to run numbers and get a solid feel if the condos I'm looking at will generate the interest needed through the year.

And for the same reason we don't put table saws in our living areas (yet) its stupid to put dishwashers, mixers, blenders, and other noise generating kitchen equipment in the same room.

This is a good model but doesn't account for a return of the $500k your parents will contribute..For example if the property generates $10k per month with $6k in PITI & operating expenses the proposed return for your parents would be: $2k and $1k for each of the minority partners.