I'm talking about one what-if here in hopes that we can do some risk management and think through a potential worst-case scenario.The scenario: I am purchasing my first property - a big SFH or duplex, with an FHA and I plan to househack the property the first year, make minor improvements, rent it out, and refinance, and then repeat.

Investing in your own personal development will help improve your job performance as well as position you for future growth and advancement in your career.Have a Positive Attitude - A positive attitude is crucial in the workplace not only for you but also for your team and clients.

For example, there's a 1950 duplex for sale (West Palm Beach, FL) for $500k with each tenant (MoM) paying $1,500 = $3k/moThe mortgage is $2.8k/moWould this be a bad investment because you would have to factor improvements and possible vacancy?

I would not invest if the good guys are losing ground, but that would run counter to your description that it is an appreciating area.It looks fine to invest in for the information you shared if the long term forecast for the area is safe and stable to improving.

If it's not healthy, then it's probably not a good rental in the first place and you should probably sell it and get something that's a better rental (if you can't improve the numbers). 

I simply budget 5% of incoming rent for maintenance and 5% for future capital improvements and manage the properties as time goes and as things come up.For example, when a tenant moves out, I will look at the property and determine if any rehab/upgrades make sense at that point.

I would match those and stay clear of over improving the place. 

This project showcased our ability to add significant value through strategic improvements, resulting in a profitable sale for our partnership.

This will improve your odds of successful flips.When a wholesaler has a bunch of flip buyers coming to the house at the same time or throughout different times, your odds of getting that deal at a number that makes sense diminish.

Finally, don’t forget to ask for feedback regularly to see how you’re doing and where you can improve.