What steps, resources, or preparations would be essential to make this a successful venture?

Look into property values, vacancy rates, and the overall rental market in the area.Real estate can be a powerful way to build wealth, but it’s essential to start with the right tools and knowledge.

Essentially, terms were prime +1 interest only for 12 months with only 1 discount point.

Horrible.The REIT is essentially a "blind pool" investment.

But yeah, essentially what others have said above.

Alignment of interest between management and investment capital is a cornerstone principle that is never compromised.

Now they're saying there are two strategies after doing this flip: 1) Flip it and get the cash 2) Turn it into a rental (essentially a BRRRR). 

This is essentially a cash-out refinance post-closing. 

Hi tax pros - I have a question about REPS status.First, selfishly, do you believe that my job as CEO of BiggerPockets, which I spend obviously spend essentially all working hours on, and dwarfs activities involving my real estate portfolio (which is managed via a property manager) qualifies me for REPS status?

This is what I think I know:- The borrower can choose to pay off the note at any time (by selling the property or just paying off the loan with other funds), so it is important that the legal balance covers my investment and some profit- The borrower could file bankruptcy (can someone confirm that this will only cause delay, but not jeopardize ultimately collecting the legal balance of the note)- Most of these DOTs will have a rent assignment clause, so I could try to enforce that and collect rents from tenants (essentially manage the property) while I am holding the note and trying to foreclose.