@Mitch Holmes With $400K-$500K in cash and your contracting experience, start with smaller flips in the $300K-$400K range to minimize risk and build experience.

I want to build a home on the property to increase value at some point.

I’m looking to build a strong network, so any recommendations you have for agents or property managers would be helpful.Thank you again for connecting—I’m excited to learn more about your experience and insights! 

Best of luck-Visiting your target market at least once is valuable for understanding the area and building trust with your local team.

The buildings are getting older and they don't have the funds to do the repairs.

Start by deciding whether to purchase your first property, invest in a short-term rental, or build from scratch.

Your focus on optimizing property management and building wealth is a solid approach.For investing with limited funds, distressed property flips and creative financing are great strategies.

Focus on building strong business credit through timely payments, low debt levels, and solid financial records, which carry more weight than the name alone in establishing creditworthiness.This post does not create a CPA-Client relationship.

I know the most critical step is to build a team which I am confident I’ll be able to accomplish since I already have some friends that live there.Any help would be appreciated! 

All that combined with limited building and no state income tax there is positive rent and appreciation.