Knowing and hearing all the horror stories I realize there are alway way more expenses than you ever expect, so therefore we plan to collect $80k for every property, so we would haven about $30-40k left over for safety margin in which we can use for initial remodeling if needed, and any unexpected expenses that may come up.

Nothing like doing a flip for it to sell 6 months later to realize you made little to no money. 

I just realized that I posted this thread in the wrong section.  

In addition, I realized my agent is also not very experienced with multi-families either. 

Once I started looking at the numbers and seeing what successful people are doing all around me I realized I was trading my freedom for a false sense of security.

So, you can not build new parks for economic and political reasons, yet anyone reading the economic conditions at present realizes that there are millions of people stuck at the lower end of the economy.

People in bad financial/career situations see real estate as a light at the end of the tunnel and then when they realize the amount of work required, they stop pursuing it.

Sometimes people do not realize escrow fees can be thousands of dollars.

Buyers want to lock in new 10 year debt and seller want to realize the gain and 1031 into something else that has value again or just go to a larger size property with the same returns.At this point you could buy something all cash but at 300k it will be mom and pop and require your full attention all the time for value add to turn around.

On that note, I would like you to take the time to consider this letter, though also realize one thing -- YOU have to be the most motivated one in this transaction or it'll most likely not work out for any of us.