I’ve thought about BRRRR it’s not my cup of tea.

We were caught holding the bag on a few flips last year when rates went up which was not fun. 

If you plan to invest out of state for you first deal it will also be essential to build your core 4: https://www.biggerpockets.com/blog/core-four-real-estate-tea...Happy to connect if you have more questions! 

You will need to get a local, rockstar Realtor, contractor, lender, and property manager.https://www.biggerpockets.com/blog/core-four-real-estate-tea...I invest locally in Columbus, Ohio

I am really hoping not to go there and will do everything I can to try and work this out, but the girl decided to sign 2 leases for the same time period, and I am left holding the bag

In other words, we become SELECTIVE in our projects - we are forced to find projects with SUPERIOR returns.The typical syndicator is happy with 20% project IRR and then he/she gives away 70-80% equity to the LP - but if something goes wrong, then all the profit is gone and the LP is left holding an empty bag!

I promise you this good family of four will spend the next 2 months looking for something cheaper while you are left holding the bag on a worthless lease.

The second way is to plan on proceeding with the purchase whether or not you are able to “flip” for a profit.The key point is that many, maybe most wholesalers use various “weasel clauses” to back out of a contract that isn’t immediately profitable for them, leaving the seller who thinks he has a “real” sale holding the bag.  

The concept of partnering with my personal funds seems to be a mixed bag of apples.

If the HOA hears about it and enforces it, you are now stuck with the bag of kicking them out prior to the end of their leases.