Flip an Hold" is a typo for Flip and Hold, as in two different strategies being analyzed at the same time.Combine all three in your analysis, and you have multiple strategies you that gives you a certain amount of risk control in case your first option (say flipping) doesn't work (could be nothing more than a change in market, seasonal issues, etc...).  

The big key is that you never touch or otherwise get direct control of the cash.

You control the property.

Would you make an offer (just to control the property) before you knew exactly where every penny was coming from?

One fly in Hayward's ointment is Rent Control. 

How much do you pay per service and how do you control how many service visits the contractor makes.

All the best in your new venture.

That requirement alone excluded a lot of properties within the rent-controlled city limits of Los Angeles, hence the reason I had to look a little further out (like Santa Clarita).  

I also told her I don't have control over the neighbor visitors parking/blocking.

They never go away and there is no control over them from the owner perspective.