your right it is a matter of personal feeling and perception.

Pre made analyzer spreadsheetI started to put together an Excel spreadsheet with some fairly sophisticated ideas in mind.

I have several clients and investors in my network who are very sophisticated.

She can tell you if your perceptions are right or not.

While a lot of syndicators offer investments to accredited investors only, there're still deals out there that allow up to 35 sophisticated investors based on the Rule 506 (b).

Sophisticated buyers -- who usually offer best price and terms -- will label you as unrealistic.

Once I’ve created some income, then should I start looking for foreclosures, passive income and more sophisticated strategies?

Here's a couple perceptions:1- Properties can cash flow2- Currently a rough neighborhood. 

Sophisticated CRM and follow up systems.3. 2 to 3 or more closers ( real people that the second the lead came in they were pounding on the door) now you will have others on BP who qualify folks on the phone and only work the with most motivated.. and I suppose that works were you have little competition or your competition for inventory is not keen.. these folks were in bigger MSAs.4.

Make sure you have an experienced inspector who also will give you an indication of life span for major systems.I'd create a sophisticated spreadsheet with as many costs broken out as possible.