Need to understand the potential and risk associated.

We just completed are first flip in Bow and just bought a 5 lot single family association in Hampton; We are excited and nervous at the same time, we weren't really looking for developments, but numbers worked out so we will see! 

Below are my numbers.Purchase price: 80kDown Payment: 16kClosing costs: 2kAnticipated Rent: $1150ExpensesVacancy: $50 (some might say low, based on my experience, I think this is reasonable)Insurance: $20 (I have a separate umbrella)HOA: $197 (well run association with decent reserves)Repairs/Capex: $100 (I don't have a ton of experience, but I think this would be attainable.

Definitely attend TREIA (Triangle Real Estate Investor Association) - you'll make a lot of great contacts there.  

Furthermore, if the seller or buyer were to come after anyone I would be liable, I wouldn't be properly protected, put my company at risk, and Zip forms are proprietary documents with an intended use, and the California Association of Realtors could come down on me for improperly using their documents.

Latest Data On Houston Market From RECONHouston Housing Market Has Strongest January On RecordHOUSTON (Realty News Report) – The new year started off on the right foot as local Realtors had the strongest January ever.The Houston Association of Realtors (HAR) reported 4,469 single-family home sales in January, up 8.9 percent from the 4,104 sales in January of last year.Housing inventory was unchanged from the 3.3-months supply a year earlier.

This system has enabled me and my associate investors to make lots of fast money.

Your reputation will build independently online and people will want to work with you no matter what named company you associate with.   

But I know some of them have high association fees and I am concerned that association fees make them hard to resell.Thank you for suggestions.

Sorry I am not more knowledgeable on the subject- I use a local CPA, Deweese & Associates and she takes care of it for us.TristanP.S.