The entire teachings had gone from Nickersons conservative but a cash flowing small residential property, hopefully for 10 -15% below market, do immediate repairs, then slowly over time improve the property and raise rents, either refi cash out or trade tax free for a larger property.

You'll get differing amounts and qualities of leads depending on the type of marketing, but also depending on who you're marketing to and where.

I like new construction since there isn't any deferred maintenance and the properties should be relatively maintenance free for the first couple years (although it's good to include maintenance/repairs in your pro forma and maintain reserves just in case). 

If the age of your equipment is older, or it stops functioning, those repairs can also add up.

If you can stomach the negative and any repairs for the next 5 years then long term wise it'd be worth it.

To address this I took detailed pictures from beginning to end of my most recent flip, documenting that we did a thorough job using quality materials.   

Perhaps a better vetting of the buyers on the BP side will enable better quality leads?

Loaded with bad tenants, who being bad tenants neglect the place, act in disrespectful ways, making it impossible to just fix up "a" unit and get a quality tenant in thus flipping it slowly. 

My clients can "force appreciate" the value of the property by doing a quality rehab for a lower than market cost because they are very good at spotting "diamonds in the rough".

Thank you for sharing this Michael.John is spot-on about what a quality human being Quincy is and what a great role he has played in building the self-directed investment industry over the last 20 years.