I'm going to have to learn some more about how to better identify the markets that are appropriate for my investment strategy. 

Just keep in mind the process can take a little longer since you’d need to work with contractors and follow FHA’s requirements.4.Your End Game: Whether you’re planning to stay long-term, rent it out, or sell once the work is done, it’s important to have your exit strategy mapped out.

Here is the statement expanded to include formulas for doing one flip per year, two flips per year, five flips per year, and ten flips per year: One flip per year: If you start with $50,000 and do one flip per year, aiming for a 35 percent return, your progress would be: Year 1: $50,000 + (35% × $50,000) = $67,500 Year 2: $67,500 + (35% × $67,500) = $91,125 Year 3: $91,125 + (35% × $91,125) = $123,019Two flips per year: If you start with $50,000 and do two flips per year, aiming for a 35% return on each, your progress would be: Year 1: $50,000 + (0.7 × $50,000) = $85,000 Year 2: $85,000 + (0.7 × $85,000) = $144,500 Year 3: $144,500 + (0.7 × $144,500) = $245,650Five flips per year: If you start with $50,000 and do five flips per year, aiming for a 35% return on each, your progress would be: Year 1: $50,000 + (1.75 × $50,000) = $137,500 Year 2: $137,500 + (1.75 × $137,500) = $378,125 Year 3: $378,125 + (1.75 × $378,125) = $1,039,844Ten flips per year: If you start with $50,000 and do ten flips per year, aiming for a 35% return on each, your progress would be: Year 1: $50,000 + (3.5 × $50,000) = $225,000 Year 2: $225,000 + (3.5 × $225,000) = $787,500 Year 3: $787,500 + (3.5 × $787,500) = $2,756,250The key points remain the same, which is to aim for a high return through flipping, reinvest the profits to compound the gains, and be disciplined in order to build significant wealth over just a few years of this real estate investing strategy.

The strategy may change, but every market can work.

I also think that investing remotely is something I would do after locking down my local strategy.

I think that strategy works best in higher areas or mid term rentals near major employers.  

Hey Sarah, if the seller has an agent, it’s best to go through them first since they’ll likely get involved anyway.For a property that’s been sitting on the market, approach with strategy.

With this strategy, we knew exactly how each house was operating and we could intervene or change leadership of the house if necessary to assure operations were going as we expected. 

A nice multi family property that you can do some light fixtures on sounds like a perfect strategy for you so you and your wife can have your own unit.

Hi Robert, your situation sounds exactly like another gentleman I am working with right now and helping with his 1031 strategy and execution.