Post any question you may have and there are many experienced investors who offer great insight here.  

I know it's unusual to try such a large rehab as my 1st flip, but if I get to the point that I don't feel I can handle it, I have more experienced flippers I can bring in to take over.

I am looking to network with developers, contractors with commercial experience, and experienced land acquisition professionals in the Los Angeles, San Bernardino and Riverside County areas.

Then if your lease is worded properly you can apply the next rental payment to that amount and charge them a late fee on the rent.Get a lawyer to review all contracts before signing one or offering a lease to someone else.

@Jestin Sorenson Make sure to review all the rents and deferred maintenance costs, all the utilities, insurance...everything-if you plan to take a portion of equity-all the numbers need to be evaluated.

@Daniel BanksAs someone well experienced with flipping properties in the area, 70-75% is fine for your numbers.Obviously you want to start at 65% or so (or basically get the property for as cheap as you can) but 75% is probably a safe ceiling for determining your MAO in the Sacramento market.More importantly, if you're new you better be damn sure of your ARV.

We found a deal and partner with another investor who was way more experienced than us. 

At $7K in arrears, they're 4-5 months behind, so they're probably looking at an August or September sale date.Also, if you've never done Sub2 in Georgia before, I'd strongly recommend you consider getting experienced assistance.

Sean, I would be interested in reviewing this deal as an end buyer when you figure out how to structure the contract.

Paul market, and experienced a wakeup call that deals don't in fact hang from low branches waiting to be plucked, and that the world doesn't owe me a deal.