I'd highly encourage you to come to our next local meetup to networking and learn from others that are investing locally.

If you are calling an area you live in, you always lead with that, "I am a local homebuyer/wholesaler and live only a few blocks away, went to this high school, etc."

Reduce Your DebtPay down existing debt, especially high-interest credit card balances.

But the escrow officer can help with that.From a high level though, that’s it in a nutshell. 

I’ve flipped in the dc area for years, right now there is just money & in the vast majority of cases there is high likelihood of losing money, right now the best investments in the area imo are buy & hold, I’ve even gone full circle and while I really liked value add for most of the last decade I think in a lot of ways new construction especially in more affordable markets (I’m personally a big fan of the eastern shore market) is a much better way to make money long term than flipping and brrring while I know they are sexy & certainly you getting a huge paycheck is great, there just isn’t any money in it right now, especially in nova. 

Partner Driven was interested in the N Deerview Dr deal in Lake Villa, IL, due to its high profit potential.

Take those things into consideration as you take on the challenge and call a property manager if you get in over your head.HOWEVER, deciding to use a property manager in the beginning when screening the right tenant, (we call them Residents), highly increases you likelihood of success as a CASHFLOWING investor. 

@Gerardo WaisbaumAt Spark Multifamily Group, we use money market accounts and are earning our investors high 4% interest rates.We have a separate MMA account for each property.Don’t co-mingle funds from different deals in the same account.Each property ( assuming single property syndication ) should have its own account.The interest earned belong to the property ie the LPs.

Highly recommend.

BRRRR is my favorite although it's getting difficult to do these days with interest rates as high as they are.