.), it can be profitable.

Just know that it is a "no days off" kind of business and very mechanical.I would suggest documenting your process via video so that eventually you can bring people on to replace the different hats you will be wearing.Keep in mind of these 5 components of any wholesale business.lead generation, deal sourcing, underwriting, marketing, transaction coordination.

Hey Steven - An LLC is a solid choice for structuring your partnership since it offers liability protection and keeps things clean when splitting ownership and profits.

Our plan is to purchase again with a better mindset of turning that into a profitable rental.We have diligently completed all the necessary steps and are on the verge of signing a management agreement with a property manager.However, we are experiencing some doubts.  1.

(Is there any “profit” left?) 

This is the fork where I'm not sure if I'd be good to get some CRE exp and invest in learning about how to review deals for the next 2-3 years, or focus on generating revenue for investment purposes and watch how things are done as a LP.My personality more aligns with networking, reaching out to people, connecting, navigating difficult situations and finding solutions that work.

Renting  rooms is almost always more profitable than renting entire suites or houses.

Things can and will go bad, but once there is enough monthly cash flow generated it will be extremely difficult for that one big issue to put us away or even 2-3 big issues all at once. 

For example if you think the house is worth 200K fixed up you need to pay 100K to afford the hard money loan and rehab budget and still have a profit.

My advice is to keep taking profits along the way.