The Bottom LineInvesting in a rental property or tackling a house-flipping project are risky ventures, but they offer the potential for a big payoff.

You are much braver than I am, for tackling a project from across the world that sinks many people who are right there!

I'm sure you tackle this, but I'd actually like to avoid brokers and focus on owners who are interested in seller financing.  

i'm looking to start off wholesaling, i figured to build a network of RE attorneys for double closing, have contracts ready, contact investors to know their needs, which i've been doing the last couple days.Now i'm ready to look for deal and tackle the convo with potential sellers:1. should i completely avoid dealing with properties that already have an agent representing them?

Not sure I'd tackle that again even though I LOVE how it turned out), updating some windows, fixing some old plumbing and electrical, and lots and lots of painting.

Hi @Muhammad (Asad) Asaduddin - It seems like you are definitely mentally ready to start tackling real estate - looking for a mentor is a fantastic next step.I definitely struggled to find some great mentors myself, however, and I think that my experience could perhaps be of value to you!

Or do we tackle this now?

It seems that 1% would be very reasonable for properties that are nearly turnkey, but the only ones I come up with are in need of major rehab/restoration which makes me question the true end-state - my estimating skills are far too neophyte to tackle a major rehab that close to the margin.  

Then, if you're interested in investing in more property, you either tackle pulling cash-out down the road via a HELOC, or you can consider cash-out now if you're very focused on making a move on something...and in the near future. 

The idea behind taking care of the maintenance and unit turnover is that we will have hands on training on tackling not only tenant issues but also property issues.