There are a few ways you can handle the renovation which all comes to personal preference.

Jerryll is very direct which I prefer.

But, it’s not a business because even if successful, you don’t own the underlying asset, so unless you grow very large you have nothing to sell.  

I’ve been a serial house hacker in the greater Boston area so happy to connect and share some lessons learned.Multifams inventories are quite low depending on your budget and location preferences.  

This fosters a top-down management approach that ensures accountability and efficiency throughout the property.As I've earned from my own experiences, the difference between a good operator and a poor one lies in effective asset management.

What you can't do remote is get a sense for the neighborhood and asset quality.

For long term, the main benefit is having someone else pay off the mortgage on an asset while you collect cash flow.

Most take 6-9 months to find the right asset to buy but occasionally some convert within 90 days.

Given the photo of that fix/flip, I assume you're OK with a "fixer upper" or would you prefer a turn-key rental?

(Feel free to message me directly if you prefer.