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If you'd like some help, feel free to reach out and I'll show you how I analyze new markets for my acquisitions. 

I think that is a decision based on your situation & goals.I'm not sure what your market rates, prices, or demand are, but I'd suggest analyzing both of the strategies you mentioned and see what numbers make the most sense.

Analyze different markets based on your goals.

You will need to work with a tax professional to analyze your current tax situation (income, deductions, activities, etc.) as well as projected income from the fix and flip business.The benefits have to outweigh the costs (payroll costs, additional tax returns, more stringent reporting and compliance requirements, etc.).One important note - an S Corp is not an entity; it is a tax election.

This means spending 3 - 4 weeks just analyzing, studying and evaluating the market of interest rather than jumping into a sales job day one.2.

What I'm trying to understanding better is creative financing, analyzing the surrounding markets, making connections, and many of the other industry-specific concepts that can really only be learned through real-life experience.The idea of REI came about between myself and my friends because one of them has access to a large amount of capital that he received from his parents as a gift.

It's crucial to carefully analyze the potential returns, including factoring in renovation costs, to make informed investment decisions.

Then you can dive into analyzing the numbers to see if your investment goals are doable.

Analyze the current state of the real estate market and the potential for property appreciation.