Hey @Morgan Iacolucci, @Pat Aboukhaled has some great insights here, and I really agree about locking down that buy-back clause right away.

A strong property manager should have a reliable network of vendors and ensure competitive rates for the work they oversee.

When we built up the triplex, we set it up so that each of the 11 rooms can be rented out individually (all BR, except 2, have their own bathroom behind an electronically locked door).

Install low flow water heads, swap the washer/dryer with High Efficiency models, replace the water heater with a tankless version and lock the temperature at a reasonable level, install smart thermostats that will automatically reduce the heat/cool when it senses no one is home, swap all the lights for LEDs, etc. 

You'll need documentation of the cost to replace, hopefully, pictures from your cleaning team before their arrival, an owner's closet with lock for supplies, and limit the number of supplies you provide to a determined number.

I am not terribly concerned with networking to find reliable contractors for renovation work.

It is about creating a balance between being open to new tenants and protecting your property interests diligently.By fostering a more secure leasing process, you can ensure that your properties remain profitable and that your relationships with genuine tenants are based on trust and reliability.

In the end my tenant received a reward for being respectful to my property and I am now have this unit locked until next year with a small dip is gross rev!.

Wholesale, foreclosure, and seller financing can work too, but I’ve noticed that careful analysis and having reliable local contacts often deliver the best results over time.So as you two gear up for your first flip, how are you balancing the potential risk with your long-term goal of buying rentals?

We don't specifically ask for them to "close" but we do ask for them to lock the door behind them.