Also when he says "crack house"...I think he means they were just junkies living there doing it, not meaning buy former meth labs.

Sold at auction the houses was used as a meth lab.$135k - 4/2/2 2,800 sq. ft sold as an REO $145k - 4/2/2 2,800 sq. ft sold as an short sale $146k - 4/2/2 2,800 sq. ft sold as a flip/fully rennovated $143k - 4/2/2 2,800 sq. ft sold as an short sale $157k - 4/2/2 2,950 sq. ft sold as a flip/fully rennovated You can see how this is hard to calculate right?

Boogers, crayons, crack labs, hand prints, gunshots (ok, not) and certainly everything except maybe black to white.

I would start with free, unbiased education and move along toward actual practice as an agent or salesperson under the supervision and guidance of someone local who is willing to train you and answer questions, learn about the RE laws of your state, become familiar with your market, see how comfortable are you speaking to strangers and build relationships; the rest is up to you. 

If he gives you even one smidge of hassle, contact his supervising broker immediately. 

I plan on going after 20 units and under initially so I can easily manage and supervise the renovations.

,successful out of town flipping requires two important people,a trust worthy general contractor to do the work on time and without supervision and a real estate agent who can sell the property as well as monitor the construction phase every few days to double check the quality and completion of the work.You need to establish your "Power Team" before you go looking for properties so everything goes smoothly from beginning to end.

If you didn't supervise work done or visit the property once it was deemed ready to rent, I would find another property mgmt company.

Rental market is strong with steady supply of good quality renters, between the Air Force Base, Sandia National Labs, Intel, Netflix Studios, NBC Universal studios, new Amazon facility, T-Mobile/Sprint call centers, several major hospitals, medical research centers,  University of NM, Orion Center -  aerospace, and other tech companies newer to the region.

I like the idea of BRRRR but I work a full tome job and wouldn’t be able to supervise a flip.