However, even in these cases, you typically leave a small amount of money in the deal and only break even before accounting for vacancy, repairs, and other expenses.

They get an ACH from my tenant in their account same day, but won't do the same into my account.

Do you also create a virtual account for those? 

It may be hard to find unbiased advice on account of that.To me, it seems that his/their core competency is promotion and fund raising.

The deal is risky unless you know the market well, have experience executing this strategy, and have accounted for the quality of the asset and tenant. 

Make sure that your tax accountant understands this. 

I reconcile our trust account each month in about ½ an hour.

Budget Wisely:Make sure your budget accounts for the purchase price, the cost of the renovations, and any additional charges involved in flipping a house.

If you don't have a US-based bank account, I would get one as that's a requirement by most lenders.

Though I am unsure how I would amortize the up front remodeling costs for P&L, tax accounting.2) Interest only loans term loans -  Would allow current owner to have cash flow on the property, without eroding the asset value.