Get to know the area very, very well, and what things sell for, enough so that you can recognize a deal.Go to meetups.Just a few ideas that might help you get going.

Like driving a car, we recognize and understand the risks and dangerous situation as we gain more experience.

Getting through Step 1 is important because post-rehab they might require __ months before recognizing 100% of rental income.

I would rent it out after rehabbing it but wonder if there is a genuine benefit by doing it this way versus finding my own deal. 

We have many of them in our portfolio here at Holton-Wise.Below is an example of a some of them.The majority of these properties are actually zoned and recognized as multi family homes as they were converted back when the building and zoning codes were different.

Being genuine and authentic is what I think strikes you apart from allllll the other people trying to do the same.Good luck!

And I wasn't suggesting you need the skills of a Flipper to ACTUALLY flip, but rather, you would need them to know if you were genuinely giving yourself a chance to regularly buy UNDER-market value, in "hot" markets.

They go beyond the point of recognizing that they need lawyers, CPAs, or other professionals.

It is genuinely the most amazingly place I have ever lived.

If you had sold the property at a loss instead of converting to a rental, IRS rules do not allow you to recognize the loss.