The second thing I will say is that you as the buyer have to do your due diligence throughout the whole buying process, even to go to the property and make sure a tenant is vacated prior to closing the deal.. 

Over the past decade of deploying a very successful BRRR model across the Pacific Northwest, I've been able to perfect my "cash for keys" process. 

I’m also in the process of reaching out to people in my city/neighborhood who are experienced REIs, RE agents, and GCs to get their insight and pick their brains, start to conceptualize potential partners, etc.

This is typically part of the screening process to ensure that the property meets occupancy standards and to prevent overcrowding.

And of course, the process of accessing the equity comes with its own cost / expenses.

There's just too many factors that can go wrong with these types of deals if you're overleveraged from the jump.And, sometimes we want these deals to work so badly that we fudge some of the numbers during our underwriting process to show some "cash flow" just so we can get into the deal.

The process is simple, however it is not easy. 

What strategies are you considering to improve your flipping process?

The only downsides I’ll gripe about is the time it takesto get used to the move in process of adding a tenant (if you already have people) and that I don’t find it mobile phone friendly for doing a lot of work however short quick hit issues are great on the phone.  

Purchase price: $635,000 Cash invested: $10,000 In the process of closing.