IMO, the best strategy for that type of individual is to purchase residential property in an area they are or can become familiar with; in an area where the neighborhood is “on the rise”, typically where demand exceeds supply and people are spending $$$ on fixing up properties.  

I hope more investors come to his area and fix that entire corner.

Type Line Item Fee Fixed Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $600 Variable Fees Business Hour Service Calls $90/hour + Materials Cost + Tax After Hour Service Calls $120/hour + Materials Cost + Tax 3rd Party Coordination HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Negotiated Vendor Cost + 10% Oversight Fee  

If they are low balls then usually you are asking someone to work for free as the fix and flip landscape is competitive for a low pay out.

You have to give a time period for him to fix or "cure" these violations.

The PM will also fix things when needed, using local handymen or contractors, and collect the rent for you.

***BUT keep it ***B - Buy it F - Fix itLive - Primary Residence itLeave - Keep it, rent it out, and find a new primary residence What made you interested in investing in this type of deal?

I would recommend anyone lending in this environment to fix and flippers or any type of investment to be careful and get a personal guaranty and make sure person has a long track record.

This person likely has a 30-year fixed rate mortage financed at less than 4.5%. 

@Emily Gowen, The 45 day timelines are fixed and rigid.