When you remodel/rehab a property look at the surrounding market and see what is "expected" for properties of that type that have been remodeled. 3.

luxury cabin, 3100', 4/3/1, nice finishes including spa and sauna, in high fire risk area with total property value ~$500k with CA FAIR was just over $5K fire only. 

This isn't to say you can't flip properties part-time, but it will come with challenges.

With enough knowledge you can make a educated decision on which approach you take.My experience:I personally don't sign up for any program who take you aside during events and try to sell packages that is just blatant sales strategy.Once you sign up there is every attempt to make you sign for their programs for bookkeeping, registered agent, LLC or corp setup fee which have ridiculous even with platinum membership.Basic standard structure they suggest to take advantage of multiple deductions can be easily achieved by proper education or work with a good firm like https://wcginc.com  who is local to you.A umbrella C-crop to manage all other LLC properties and take advantage of many tax deductions that are not available with a llc, its also used to take losses up to 100K as startup expenses and dissolve the entity after few years.Few LLC entities for investing in Real Estate, etc preferably in Wyoming or Nevada ( you can find many companies online who can do this for $150 compared to anderson $1500-$3000) , they will claim they have a secret Operating agreement which is bogus.They certainly try to take advantage of tax loopholes and claim to be smart people, my view they are just taking advantage of numbers as per their own statements.

These historical trends suggest that lowering the tax burden can free up capital for reinvestment and fuel a fresh wave of property acquisitions and development projects.But there’s more to the story than just tax cuts.

I don't currently have any investment properties, but will likely work with a turn-key property managment in the Memphis/Little Rock area.My goal is to build a good cash-flow portfolio to ease into retirement. 

Found T&H realty services to be pretty interesting as they provide both buyer brokerage service (to help me find deals) as well as do property management i.e. they are not full turnkey provider necessarily, but reduces some of the hassle for me I guess as an out of state investor. 

Renting out your current home could provide steady income, helping offset the new property's costs. 

Investment property (not primary residence) It's the industry standard if you're not going to live there.

While I’m new to being a real estate agent, I’m not new to investment properties.