You could do a live-in flip with a single family residence ... and learn to do some of the work yourself, and/or outsource the rest to a contractor.

@Jeremy Lee Go for it, it's a great first investment and it trains you to do a lot of things that come in handy, or are at least good to know, even if you later outsource.

Can’t say I know much about the more hands on tasks but I would outsource those jobs.

Mine is in India, works on projects as I need her, and is indispensable.She handles emails, Quickbooks accounting, and even researches strategic plane tix for me at my whim.The best in outsourcing biz is Tim Ferriss' recommendation of BrickworkIndia.comHope this helps,Tevis

When you do a lease is there a minimum lease payment made to the laundry company? Trying to assess all the costs:
I know costs to landlord may include water, electricity but is there any lease payment as well?

Since you're local, you could outsource the marketing/booking piece and handle onsite issues, or try to find a local PM and negotiate a fee for being on call.

Just a suggestion - outsource your negotiations, concentrate hard on marketing and try to differentiate yourself.To Your Success,

The best way to keep this from happening is using a VA with good ratings from a known outsourcing company.

The 'easy' route is usually done by most wholesalers first thing, especially in competitive areas.Are you doing your campaign in house or outsourcing?

I like his internet based management using websites, outsourcing advice, detailed line by line contract overview, and many other things he offers.