I would like to do a combination of both flips and rentals depending on what makes the most sense for the property location and needs.

We need to analyze better the deal but looking at it and because is in Mesquite I feel that a rent to own may work.I have a property on my own where I am looking to explore this as well.

I ran the numbers on some properties and they meet well above the 1% rule, but that sort of worries me...

But you need to learn all about landlord/tenant laws, how to do basic repairs, know what average labor and material costs are for common projects. learn about payment systems, how to interview property managers, tenants and handyman services, build a team of realtors, contractors, title, hard/private money lenders, inspectors, appraisers and soooo much more. 

I have 5 rental properties and in most of them I have an equity of more than 35%.

Depends on the class of property. 

I know quick books will work but I was curious if there is something out there that already has all the detailed costs input where I would only need to add the basics about the property.

I’m an OOS investor and I’m sending my realtor over to inspect these properties to see if either one would be a solid addition to my portfolio.

This will demonstrate how the property performs as a pure rental, and it forces you to save.

But the fact is, in the long term, if you own property then your money has a constant and safe return on investment.In a bear market, investors worry about the value of their investments.