Flipping works well if you’ve got solid contractor connections, while rentals (like single-family homes) can be great with a BRRRR approach.

If not, the only requirement may be filing plans with the dept of buildings.One of our contractors does the bulk of his work on contracts with NYC.Mainly work related to bathrooms & tiles/flooring, I will shoot you a PM if I can get any information on this.All the best!

Take your inspection checklist and have the contractor complete the work he's already been paid for, make that part of the mediation.2.

Other risks, the contractor walking off the job, a storm hitting and delaying the project for weeks, someone breaking into the home and stealing stuff (which happened just the other day to a client of mine), a squatter, or drunk driver driving into the house (happened a lot at my old job as a firefighter lol).

I would explore the costs with some other contractors are 2/1, 2/2 3/1, and 3/2 SFRs are.

After months of blood, sweat, and bargaining with contractors who seemed to vanish into thin air, I finally flipped it for $180,000.

Property management companies and contractors are the people in your business who make or break you.I will send you a private message to refer you to a property management company that is doing good for me.Don't let the bad experience sway you away from real estate.

Once you decide on a contractor I would keep the fire marshall in the loop as to the scope of work and the timeframe for completion. 

Well, this my opinion, if you like unpredictability, constant change and people/contractors with no regards to you or your property then "YES" flips and STRs are the way to go...LOL....I love it!!! 

First, it fast-tracks your learning as an investor - you are forced to develop better time management skills, build your network of reliable contractors/ handymen, etc..Second, when you are ready to transition to a property manager, you are well equipped to evaluate and hire the right company.3.