Does anyone have specific reference that gives clarity to this situation?

We don't have a team per se just yet, and hence the reach out to this community.

That being said, are there any specific markets you’re looking at?

Having a good team is important -- especially with lenders, title company and contractors. 

@Heidi FischerGreat questions for a CPA that knows more details of your specific situation. 

However, if you know and have a relationship with the person/team that will be doing the rehab for you in your absence and trust they have your vision in mind then you are in a better place to start. 

1. coaching- all of the "coaches" were newbies themselves with about 1 year of experience and about 1 deal under their belts and they always disappear after 2-3 months and get replaced with new "coaches".2. networking- they have a FB group, populated primarily by other newbies. go there to answer questions, and it's likely you'll get other newbies saying "good question". there are lots of newbies hoping to get into a deal, but who wants to put together a team where every single person is brand new with no experience?

I've generally gone out for those sorts of trips unless you really trust the team to have a sharp eye as a lot of the styling happens once everything arrives and you have to make it fit together. 

Develop a team with essential members, focus on moderate property prices and high demand, and start with cosmetic flips.

Always approach as a developer with a specific usage.