Welcome to BP.My biggest piece of advice is to understand risk premiums in real estate.

You’re trying to ruin the biggest benefit of the life in flip. 

The biggest question I would ask is how well they know the area such as neighborhoods and do they have connections to building a CORE 4 such as great contractors, property managers, attorneys, etc

That property looks fantastic actually, I think sorting out the budget would be our biggest challenge.

The biggest difference to me is that YOU have control of every aspect of an active investment, while somebody else is in “control” of a passive investment.  

Will Add in CA  there are 3 ways to do the Private loans.. 

@Mindy PerryReally doesn't matter what software you pick as long as it has the features you want.Two biggest challenges with ALL software:1) None are perfect, so deal with the tradeoffs2) Most users rarely put in enough time to really understand how to utilize the software.

Biggest lesson I learned in this experience is to tell EVERYONE what you are doing/trying to do.

Will interest rates go up or down when Freddie/Fanny are 100% privatized?   

I wish the Department of Health would accept private provider plan reviews for septic tank permits.