Some wholesalers over charge and don't understand the market and arv or BRRR.

- In our opinion/experience, it's important for an OOS investor to understand the "lay of the land".

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

I understand that I need to account for taxes, insurance, and other costs—Should I go with a LML and then do a refi later on?  

Unfortunately, this problem waste a lot of my time that could be spent on other investments.I have used the same tax professional for many years and he is very educated, but also much older than me and it's hard for me to understand all the reasons he has expressed why is better to put the rental on my personal tax returns.

You really want someone that invests in their market themselves and understands the numbers.

understand the 50% rule

@John Cooper I can understand your frustration.

Having dual licenses, loan origination and real estate, has got me involved in most parts of the investment transaction.  

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!