Start by thoroughly evaluating leads for profitability, calculating ARV (After Repair Value) based on comparable properties sold in the area within the past six months.

Start small, network with other investors, and use tools like BiggerPockets calculators to analyze deals effectively.

Learn from this experience & do some simple calculations to find a good rental rate. $1200 at 1.5 months vacant will yield a greater annual EGI ($12,600) than $1350 with 3 months vacant ($12,150).

Have you seen Scott Trench's sell or rent calculator?

Floor Plan CreatorPlatform: AndroidFeatures:Allows you to create detailed 2D and 3D floor plans.Supports laser measurer input for accurate measurements.You can enter exterior walls, fix them in place, and add rooms within.Offers automatic calculations for perimeters, rooms, and walls.Bonus: Plans can be exported to various formats for further editing on Windows2.

Ensure the property appraises at its updated post-renovation value to maximize the equity you can pull out.A refinance isn’t a taxable event, but transferring ownership to your LLC may affect depreciation or future capital gains.

Just enter the address of whatever property you're looking at and the site calculates the market rents 

You said "don't do it for the money," but I'm sure money calculations were part of convincing you this would be a reasonable way to spend your time and money.

The biggest advantage of using someone local to where you're buying is that they will understand taxes, insurance, and similar items very well when it comes to DTI/DSCR calculations and payment quotes, and they will likely have a local network of service providers for ancillary services (survey, inspections, etc).

If you don’t need cash flow in the near term, my suggestion is to use depreciation to defer taxable gains.