They take a lot of money, and often my clients are most unhappy when they hire a PM to manage their midterm.

We hired individuals with construction and renovation backgrounds to inspect the work of our project managers in an attempt to catch flaws before listings hit the market.

@Jay Lutz Make sure you have a very detailed, professionally drawn up partnership agreement with at least one or preferably more exit strategies written into it.

Should probably look into hiring some property management too - if you have cash flow but unbearable headaches of managing - might be better to break even and hire full-service management and then re-evaluate down the line

Aaron, You should really consult a tax professional. 

In some situations, it may make sense to hire a pro to get the job done quickly and correctly, then you can rent it out earlier and offset the additional cost, or at least part of it.My first house took me six months to renovate.

first off if you have to buy a system those are not true private money lenders those are HML ers full stop.private money lenders are folks that you meet personally.. at REIA meetings etc.. other professionals that you may encounter in your day to day that would have invest-able cash. many of these professionals will have IRA solo K profit sharing plans and those are your perfect investor. otherwise quit wasting your time and find the nearest HML that are REAL  ( tons of fakes) their rate will be basically the same as private lenders generally speaking

or I am happy to hire an agent to do eviction too.

Hello, I'm Sadish living in Greensboro, NC and an IT Professional.

toilets can easily be replaced (if the current one isn't white) and you can have the tub professionally reglazed.