Evolve put out some really useful checklists of things to consider with turnover: http://blog.evolvevacationrental.com/vacation-rental-checklists/

My plan seems to be evolving as I learn more and get a better understanding of where I want to go and how I can get there.

"If you change the way you look at things" - very powerful, as I personally evolve and expand my real estate experience, exposure, depth and capacity, the ONE THING, I always take away, is that because I changed the way I looked at "the deal" - it allowed me to make the next step in building wealth. 

It eventually may evolve into helping them manage flip projects, but they may not wish to have you fill that position right off the bat as a newbie.Finally, you could use that $40k to lend in second position as gap funding for rehab costs to a flipper, and/or sign for the HML loan, and ride shotgun in that deal to learn, but I would not recommend this route as that amount may be too little and it would be too risky IMO for a newbie to loan in 2nd position or sign for a loan.

Been at this game 5 years now, and have evolved the business from a hobby to business system.

That’s right, the same one that came up with Dodd-Frank, S.A.F.E and the ever evolving versions of same, all to solve a problem they themselves created.

We have learned a lot and have really evolved.

We have had so MANY lemonades turns into lemon aid that our entire business plan has evolved in the last 3 years.

Less emotion evolved, and fewer chances of something going wrong.

And in the meantime, the REI market will continue to evolve.