I live in Rhode Island and, although it is a bit of an expensive and tough market, I want to have my first property near me so I can learn as much as possible.After doing some research we are looking to invest in one of the following areas in Rhode Island:1.

We are looking at both flips and buy and hold for long term Investment and cash flow.

However the particular properties we are looking to start with are under 50k and neither banks or investors want to deal with them.

We are a somewhat quiet bunch in Lubbock.

My plan would be to rent it out monthly with the crappy kitchen, knowing I’ll lose money on it for a year (hopefully not much longer than this), then once we are able to renovate the kitchen, we should be able to generate some good cash flow.  

We are in our 30's with 4 kids (7 and under).

We are definitely interested in flips, Wes.

We are starting to work on Tiny Homes as a project direction -- our program has several years of experience in construction and building quality homes and now I am trying to get to know the regulations and guidelines for Tiny Homes.Would love to connect with anyone else in this Tiny Home world to grown and learn! 

As neither the funder nor myself have done this before, we are trying to decide how to split profits.

We are hopeful he will be able to pay us back but if not would we be able to foreclose on the house and rent it back to him?