Hi @Justin Snead, I would say just make sure wherever you take the pre-licensing class is IDFPR approved. 

I had 2 or 3 called.Now again keep in mind I had zero interest in holding these as rentals and I ONLY bought homes that had significant equity for me.. mainly all pre foreclosures..

Know that every long term lender will require a survey and if something comes up on it when you are trying to sell or refi, you could get stuck in hard money without an easy or quick way to get out.Is there a pre-payment penalty?

Or we gradually perform high-quality updates for a live-in flip, then roll the equity into a new home.Regarding rental income, we aim to boost income, lower our effective tax rate by generating more low tax-drag income with rental income (since there’s not much we can do to lower out W2 tax bills) and have retirement cash flow.To compare the financial impact over 10-20 years, we want to analyze renting versus flipping.

Then, if or when you decide to sell, you’ll have valuable insights to apply as you roll those proceeds into your next investment property.

I was able to rent the garage to a seasoned electrician running his business through there only coming in and out to stock his truck once per day.I hope to be able to convert the second floor into an ADU as soon as Feb 2nd rolls around.

If the investor is actively involved and can stay on top of materials, roll with it!

This makes targeting distressed sellers, such as those in pre-foreclosure, or those with ballooning debt that was taken out in 2020-2021 when the interest rate was 7.37x lower (8/09/2020 the 10-year treasury was .56%, 1/15/2024 the 10-year treasury is 4.69%) making it very difficult for those that underwrote the property in 2020 to have predicted refinancing at these rates and likely a sale is their only option.

I like the idea of having them roll that cost into the job if you use them as your GC.

I would contact an attorney to get the ball rolling and see what's next