There are a lot of big players buying up rentals on cap rate around here, so the flips have been pretty hard to come by.I was buying at under 65% this time last year, been pretty hard to find at 70% lately unless you are doing add-ons in high dollar areas.

What is standard in the neighborhood and what is the competition doing.There are window companies that advertise $189 windows installed, really ends up being $300 a window with the add ons like lead remediation.I redid one house with 37 new windows.

Anyway, a couple months ago I posted an add on Craigslist, bid clerk and found some local contractors on Angie list.

As a complete package (with add-ons) you can virtually manage all aspects of your real estate business.

MarjorieEdited to add: One of the things that appeals to us is that, due to the financing via 401(k) loans, we'd own the property free and clear in 5 years...so it would be 100% cash flow after that.

They have lower maintenance & lower OE ratios, but location is key and your competion is fierce in most areas.Find one with a seller looking to retire, who will owner finance, one that may have had poor management (in which case you have upside to increase occupancy, increase rental rates, lower expenses) and perhaps room to add on or add trailer/boat storage space.

But if you feel as if I’m missing something or just have anything else to add on how to get started please don’t hesitate to tell me.

@Jay HinrichsYeah our guy does the drone or the 3D, each "package" is an add on.

I checked into FHA financing for 136 unit apartment complex, the rate was good at 6% but the add-on costs of doing business with the Federal Government was rediculous.

Kody, we do the SFH turnkey here is Tulsa and get 15-18% ROI.