I personally use private investors to fund all my flip deals and bank financing for commercial buy and hold deals.

Learn how to comp correctly and learn how to project rehabs correctly and they become neither good nor bad, just another source of deals for you to underwrite and decide if they fit your buy box. 

Buy low, renovate smart, and sell high!

I was not interested at 1.2 mil but became motivated buyer when I could buy it for 800 and get 100k of upside I said sure why not..3.   3 houses  125k closing i put up all the money  he had two of them sold for 100k and that closed 5 days after we bought it so basis on the last house is about 25k .. and its on the market for 89k. 

We have a chronic housing shortage, which results in an extremely hot rental market, but it also makes buying very competitive.

." - Is your cousin and dad buying, selling, or holding properties right now and why?

I'd sell quick (or not buy, whichever is the case.)

Not only do you have to buy the house, but you also have to have the money to fix it up before you sell it.  

I am re-reading 'The book on Rental Property Investing' by Brandon Turner then going to re-read 'The Book on Investing In Real Estate with No (and Low) Money down' by Brandon Turner and 'Buy, Rehab, Rent, Refinance, Repeat' by David Greene. 

We haven't had success buying a place to have as a STR yet, but when we do I'm going to try to make sure that only fragrance free products are used.