On a recent episode of the podcast, I remember hearing one of the hosts discussing this town as a good place to invest but have not been able to find the show notes. I believe it was either Tony or Henry Washington. A...

But if seller was in such financial straights to have any risk of doing such, I wouldn't recommend getting into a C4D, there is other mechanisms of potential. namely, assuming the mortgage. 

Looking for a turn around scanrio is an ego pleaser, makes for a great story if it works, but high risk it will never pan out the way you thought.

I am potentially looking into getting a trailer at the begining of the year getting a trailer that may need some work to rent out.

Not only does it have excellent potential as a house hack, but it also offers significant upside for a live-in flip.

I would read up on the risks before collecting rent with those tools.

I have them tell me how long a project will take to complete, and then I add buffer days or maybe up to 2 weeks, depending on how long / complex of a project it is and potentially accounting for weather if it is outside work.

Turbotax isn't going to educate you so unless you'd like to educate yourself and potentially make some costly pitfalls, then I'd outsource.

It's also important to know when you face the risk of a lawsuit.

Even at that price point, you may struggle to find a tenant, potentially leaving the property vacant for months.Here’s an example of a deal I’m currently working on:Purchase Price: $215,000Rehab Costs: ~$250,000ARV: ~$615,000Potential Rent: $3,600/monthUsing a $615,000 ARV and 75% LTV on the cash out refinance, with taxes and insurance, my monthly payment would be $4,267 using an 8.5% rate.