Many new agents are enticed by the lower commissions at other places and miss out on the resources available at larger ones.

Buy low ($20-45k / unit) and expect to end up with a $40k-$60k unit after renovations that rents for $600-$800/month (depending on location).Do one project at a time until you have the right people to scale up (read -more projects faster) and won't outspend your cash flow from your day job and other rental income.

Iv'e worked on High rise buildings, custom homes, renovations, rehabs and many years of labor in many different trades but, have no knowledge in Residential Real Estate. 

Its just more paperwork during a renovation than one would typically do.  

I am interested in one day building to larger apartment complexes and have always wondered myself.

. $1200 for 3 month term                $160K Property Value (incl. improvements), $300K LimitQuote 2 - Builders Renovation Policy from Lloyd's of London. $917 for 3 month term                $80K - Property, $300K Liability, $1K deductibleBoth seem very high and I can't even use quote 2 because I am not using a licensed GC.

If there was recent renovation on the property ask the owner if they paid all contractors and get copies of the lien waivers/paid invoices.

These days, you need to be willing to do conversions, single family to duplex / multiplex or renovations to up rents to make these properties cash flow.

Hello everyone,My house has been renovated, but I find it a tedious task to clean all the dust, and dirt Though it is newly renovated, I think the house needs a thorough cleaning.

This gets even worse when you start building a larger portfolio.