This area provides a lot of opportunity as I am sure you are figuring out. Let

unexpected bill for a few thousand dollars a year down the road....).

Next step would be to find and acquire a property that fits the mold for flipping or brrrr with your cash reserves or hard money and then have the contractor/investor fund rehab costs for a 50/50 split of profit if flipped or an agreed percent if you refinance and cash them out. Let

Get a $4 outlet tester.  

My first thoughts are:-No exposed wood or painted surfaces on the exterior-Coax cable outlets in every bedroom and living area-LVT in the common areas and wet areas-Concrete porch and patio instead of using a wood deck-Upgraded toilets with large flush valves and high quality internals-No bifold closet doors-Basic cabinets and countertops-A step up from Contractor grade for faucets -Solid wood interior steps instead of carpetedWhat am I forgetting?

I'm not up on the laws in your area, but you might want to check them out before something bites you unexpectedly.

I dont know just throwing this out! LET

Plus you'll need to run a 220 outlet for the outside condenser.

The costs can add up rather quick and unexpectedly, best to have the time to address it, without the extra stress of having to make payment within 6mo - 12 mo.

If you are using hard money you need to budget for the points and fees as well as traditional third party closing fees.Repairs: The money it is going to take you to rehab the property plus an extra 10% of estimated repair costs to account for unexpected repairs.Holdings Costs: Here is where a lot of investors get tripped up.