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

In south Florida, there are a ton of free RE networking events where contractors, agents, mortgage brokers, etc all meet for drinks etc and I have found this to be a great way to find good people in the business.

These can be great for making initial connections and learning about specific markets.Since you're thinking long-term, consider spending some time in your target markets to build relationships with agents, property managers, and contractors.

Buying site unseen is a huge risk unless the buyer and wholesaler have a history doing deals together.My buyers trust the deals that I bring them, but I also provide them with in-depth inspection reports along with photos/videos of the inspection along with multiple cost to completes through multiple contractors.

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

So when you need to go check on things, rent units, meet contractors, etc, you're jumping in the car for 6 hours, spending 1hr there, and I'm thinking after a full days's work. 

Whether that is most contractors, hiring an engineer, or getting self-educated.

Hey Brian, Generally, a HML org will want to see some diligence around the contractor or get some idea of past work if you're doing the work yourself.

Hey @Chi Lo - I actually have a video on my YouTube page about this (lookup ClosedByMo on YouTube).Regarding walls being damp and waterproofed, it means there needs to be waterproofing on the basement retainer walls (this is something you can do post-construction and the contractors would need to dig around the house exposing the basement/foundation to apply the waterproofing). 

please send me a case example I'd love to read. that's one appraisal. the knowledge I have as a licensed general contractor working with investors from 5 cities at a time all over the country buidling 3 different floorplans I would say trumps one ADU you read about online