There are probably 10 different answers to this question and they all begin with depends.In my opinion the most valuable aspect of a flip is finding the deal.  

Maybe even get a mentor in the aspect of real estate you are interested in.

I am also new to the generating leads aspect of real estate.

As he said, if you are going to be some micro-managing land lord who wants to strictly enforce every single aspect of a lease then this isn't for you.

RE the timber aspect of this conversation, Jay Hinrichs was also a podcast guest like Seth Williams, and transitioned from land into timber. 

Read @Mike Weese book, liked it a lot.Read more than 300 other real estate books, most not that good.I would like the best book written on using your solo 401K to buy real estate, if that book exists, if it doesn't then I will be forced to do all the research and write it myself.I'd like to read a book about somebody who is succeeding now doing some aspect of real estate.Any suggestions?

A different matter.Judgments can cause your tenant's bank account to get hit, they could lose their rent money causing a late payment or default in the lease.I'm not sure how an accurate point system can be devised that would stand up in the event a tenant complained of a rental assessment (a judgment is enough for a denial) but scoring other matters between other applicants......I wouldn't go there.Once you take aspects of your underwriting from a subjective side (having the ability to use your opinion on the matter) to an objective side, quantifying some matter, then you open the door to your system being fair and accurate and it won't be.I say it won't be because multi million dollar programs can't meet that standard, MUELS, a mortgage underwriting system has kicks that can't evaluate objective matters, so I'm sure a landlord won't be successful when institutions with big bucks can't solve such problems.That said, having some system certainly helps you determine applications on a consistent basis, it's a guide for you to remain fair in your assessment, in your mind so to speak.

Welcome to BP community @Corey Fick It is a great place to meet new friends and learn about various aspects of real estate and more.

I am interested in all aspects of real estate and look forward to becoming more active on BP.  

A CPA in DC or Montana can help a tax client in Fort Myers.The tax planning, strategizing, etc… can all be done from someone in Florida or outside.