I’d say investors that choose better locations and better properties within those locations will have a much better chance of success as the big risks will be minimized (by better properties I mean with less deferred maintenance, not necessarily newer but newer can sometimes reduce operating expenses, or older with “good bones” that are well maintained, especially if you’re needing to outsource any work and manage it remotely).

It depends on your goals and comfort level:Turnkey: If you want a property that’s ready to go with minimal hassle, a turnkey is a safer choice.

Its not easy but its possible you just need to talk to people who have done it before and learn from their mistakes and help minimize yours.

Also, I’m not into tax evasion necessarily but she’s owned the place forever and has minimal taxes.

@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.

Despite its high purchase price, the neighborhood's strong market demand and low renovation needs made it a promising investment for maximizing profit with minimal turnaround time.

With the new rent control policies, there is zero incentive to lower rent as it may take years before you could recoup that with the minimal increases they allow. 

For minimizing upfront costs, FHA is better; for liability protection, conventional with an LLC is ideal.

In other words, I want to make the argument that even the worst-case scenario is better than allowing the house to sit vacant for several years while meanwhile paying out-of-pocket for taxes, minimal heat, lawn care, etc.

When your tax professional prepares your 990t they will utilize the Cost Seg to minimize the UDFI tax.