If so, it would be better to do all the renovations at once, then raise the rent to market levels and have a stabilized property up and running.

@Shawn WilliamI think you should level it and build a commercial property

Risk level is insignificant when you properly operate your business as others have mentioned.

I have been doing my research and after talking to other builders in the area that have told me $65 per sqft is average for base level units.

As an example – a car dealer doesn’t want to spend money mailing to people who probably won’t to be able to qualify for a loan.When looking for Motivated Sellers, we target homeowners on the opposite end of the spectrum: people who are most likely to be having financial difficulty.By applying Low ESI to your list, you add a level of motivation – homeowners who are struggling economically are more likely to want to sell their homes.While credit scores were utilized in developing the model - they are not actually part of the model (hope that makes sense) so there are no restrictions in using it.

One main issue being the frig water line leaking and no one saying anything till I happened to go in the basement and see the waterfall coming from the first level - ruined my new hardwood floors :-(  Wondering if peoples fears and issues change much from different cities like New York, Dallas, Los Angeles, Orlando, Seattle, Kanas City, Etc.

I would like to do a live-in and flip but I am aware of my level of inexperience, I don't think it smart to act hastily.

Depends on whether the activity rises to the level of a trade or business or is merely an investment.

@Zachary Schimenz this will vary greatly on the size of the house, number of bedrooms and baths, level of finishes in the house, overall condition.

3) Are you managing these yourself, and if yes, what is your level of experience managing rentals?