Hey everyone,I recently closed on a 6 unit, and have gone about updating 1 of the units with some repairs and will need new flooring.

@Alyssa LakeIt depends upon many variables, such as age, condition, location, the amount of capital you need for repairs and unit turns.

There are flippers here in Los Angeles I actually steer my clients away from certain flippers because I know the quality of work they do and I have a duty to disclose.

@Lue Yang FHA will give you the lowest downpayment with you being a nonoccupant coborrower.You can also do conforming, but downpayment will be 20-25%.BTW - if you find a property that needs repairs, you can look into an FHA 203(k).

The Midwest can be a great place to get good cash flow, but make sure you have quality management.

Find properties that are not listed on the MLS for the world to see, get them under contract, then assign the contract to an investor for a markup (but a list price that makes sense with the amount of repairs needed).This is not an easy job.

Make sure to budget for any repairs that might be needed. 

Co-hosting could be locally based i.e. delivering towels, doing inspections, managing repairs and maintenance etc, or could be virtual tasks like communicating with guests and coordinating things virtually. 

Are their listings detailed with good-quality photos?

Purchased for $290,000, put 25% and put $20,000 in repairs.