Accounting basics being able to understand and read financial statements very valuable.

I’ve educated myself on the importance of understanding the variables between annualized ROI vs Comulative ROI and just the annualized ROI can be more helpful when comparing apples to apples as well as apples to oranges.  

Others may disagree, but in my opinion, you need to have some level of rehab knowledge and understanding of costs before having a contractor walk a property.

Be sure you understand the annual filing procedures wherever you create an LLC.

By the time you get to know the market, you'll have a better understanding of the players, including the wholesalers and investors.

You can use this tool to figure out that part: https://docs.google.com/document/d/100dRzu-iQEIZbR1adxIASdH2...Once you have that you should engage a local broker to discuss the options for those types of uses in your market and they will be able to help you understand the overall picture and cap rates of the various options.

They understand bulk business and typically like to work repeatedly with the same people to keep things easy. 2) It's easier to negotiate with subs.

My friend understands he needs to fix few problems. 

With that said, I'm doing MTR as well and if you haven't come across it yet, Furnished Finder has a great tool for understanding comps in your chosen area: https://www.furnishedfinder.com/stats

As I understand it the PMI Franchise is rolling this out to all of there offices.