We are experienced and have never involved anyone in our projects and have never used a loan outside of a conventional mortgage.

Those numbers are arbitrary unlike taxes and insurance and they vary based on age, condition, area, landscape, PM, and other things.

Budget Wisely:Make sure your budget accounts for the purchase price, the cost of the renovations, and any additional charges involved in flipping a house.

Are they given a JV-co-GP position for fundraising or will they be involved in the management of the property?

And having a property manager does not mean that you’re not directly involved with a lot of issues with your properties.Given your situation I might rather suggest a REIT investment where you get exposure to the category, but not have to deal with such a large portfolio, or just get your feet wet and see if you like being a landlord by buying a couple of properties  Randy  

It typically involves a person gaining access to remaining equity in a home that is subject to foreclosure.10. https://www.legalmatch.com/law-library/article/equity-stripping-lawsuits.htmlAcquisition: The rescue artist convinces the homeowner to transfer the title to their house to them as a way to avoid foreclosure.

A lot of it has to do with location and time.If they are local owners looking at 1-2 LTR properties, I'll assist with identifying cash flowing/near cash flowing properties, assist them in the purchase as their buyers agent and assist with tenant procurement, listing, etc. but they can typically handle day to day management from there.Furnished properties, whether that be MTR or STR, are a lot more involved, as I'm sure you're aware of!

Make sure any renovations comply with local regulations and obtain the necessary permits if plumbing changes are involved.

Looking to see if anyone has a basic template of an operating agreement for a business partnership of two parties involved in the fix and flipping business?

Investing close to home allows you to gain hands-on experience, learn the ropes, and be more involved in the day-to-day.