I want to spend some more time with my family and think this would be a good avenue to make myself financially independent and eventually stop working in the city.So there it is, it went on a bit longer then it was supposed to.I have  several friends that are interested in partnering with me but i think i want to do one or 2 by myself before I partner with someone. 

To me, this is important for the simple fact that it's easier to learn the process if you can be more hands on with the deal.The process includes the purchase, rehab, lease up, stabilized management, and eventual sale of the property.

As a Mortgagee you don't control the property, so a borrower who might over capitalize an investment may also stick to an unrealistic sale price which prolongs the sale which can eventually cause delinquency and default.  

Eventually, we would want to learn the business hands on locally when we can devote more time and money to it.Obviously we are very much beginners and are still in the early stages of research.

We list a lot of bank owned foreclosure and deal with a lot of investors so I'm search our paths will cross eventually. 

My favorite are approved short-sales that fell through with a previous buyer recently.Bug all the agents who have pending short-sales and you're bound to find a failed deal eventually and then SWOOP!

After that and once we had kids she said enough, but by that time the profits had gotten us to a beach town in SoCal, so I eventually ended up with a happy wife, just got there the hard way.

For example if I want to utilize the BRRRR strategy I will eventually need to pull out cash to reinvest.I appreciate your input and advice.

For example if I want to utilize the BRRRR strategy I will eventually need to pull out cash to reinvest.I appreciate your input and advice.

If you hold this property long term, you will have CapEx and will eventually have to replace everything at replacement cost.