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.

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.

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

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.

You would need to understand that pretty well to play (safely) in this space.

It fits within our buy right criteriaWe own 12 units right next door.Newer vintageThe three beds are in high demand, and we are blowing away the 1% ruleThere is very little cap exWe focus on PPU (profit per unit), and this is going to profit nicely and add to our scale in that part of the marketExit strategy is to refinance our capital out when rates drop, and to hold long term.You have to be willing to take what the defense gives you, and you have to understand all of the investing strategies and know when to use them2021 and 2022, we only did about 200 units, smaller deals, but very profitable and we’ve refinanced all of our capital.2023 was an excellent year. 128 units, 105 units, and 97 units.If you aren’t doing deals, you can always be improving operations, meeting more potential investors, and creating more relationships.Life is like real estate.