You need time to get your feet wet - and doing it on a small scale is WAY safer than getting into a 6 figure renovation.Flips are for one time cash, and rentals are for long term cash-flow.  

Ive heard both from numerous different people but would like an opinion from someone more experienced, thanks!

Just the way I do it but can be done numerous ways.

There is so much information and noise out there, might be helpful to just find a local community to get your feet wet. 

Would like to do minor rehab to get my feet wet working with contractor, but nothing major.

I've seen this happen numerous times in the past. 

I have spoken with numerous people recently who have stated this.

Think about how you can get your feet wet in a low risk way, while trying a strategy you become interested in.

To get your feet wet, get a PM. once you learn the ropes, you can manage one out of state property on your own. 

Once fully satisfied, the split becomes 50/50.When accessing this deal, here’s what went through my mind:A PMP would have to be okay with holding their funds long-termThe borrower would need to be experienced with doing wraps, as it takes time to get willing and able buyerThe borrower would need experience in pivoting to a different exit strategy should they fail to successfully execute a wrapWith NO EQUITY on the property originally, and the PMP being in second position, the borrower would likely need to cross-collateralize if the PMP has NO INTEREST in taking over the propertyMy conclusion, from looking at this from a thoroughly analytical standpoint, would be only someone who has a moderate to high risk tolerance and cares about cash flow without pulling out and parking their money into numerous deals would likely lend on this.Anyways, thoughts anyone?