I self manage, have material participation status and file on a schedule C.

The number one thing I tell fellow investors is that in the city proper you will deal with 36th district court and that has a material impact on the speed with which the court process will proceed if you need to evict. 

Also, at first glance, I thought that the alternate name they used, rentals2retirement was actually "Rent to Retirement", a company that I had researched here on BP.

There are still materials and maybe some other specific trades, which you and your sons may not be able to do.* Ask that same real estate professional above, if it is worth doing the rehab, if you decide to sell?

tougher than advertised. there is lots of competition for deals; good contractors are booked up; materials are expensive; and interest rates are high.

So, with no foundational knowledge of real property, and no capital, his only alternatives are (1) “bluff” the homeowner into thinking he has the money and intent to close the purchase himself and or convince the homeowner he has an extensive list of cash ready interested buyers (“partners”) with whom he’s done dozens of prior deals or (2) pack up shop, write off the money invested in mentoring to a worthless investment, and decide IF real estate is right for home.  

Also look at job growth and alternative inventory growth.

In the United States in 2024, mortgage rates are generally tied to the overall bond market, as most residential mortgages, including conventional qualifying mortgages for owner-occupants, residential investment mortgages (DSCR loans), and even other alternative residential mortgages (non-QM), are securitized.

This will usually be an excel sheet, or maybe something fancier, that will outline, item by item, everything that needs to be done, parsing out every item, labor, materials, etc. 

If they want to sell now or in six months, you need to know before giving them an offer so you don't lose leverage by giving them an offer now instead of closer to when they are ready to finalize.Since you are already going to the property, take good pictures and make sure you capture the electrical panel, HVAC labels, and plumbing material.