Make a team of people you trust, but still verify everything for yourself.

You essentially need to set up a team that can work together and cross-check each other to ensure you're buying smart.

@Wyatt Morgan Do you have a CPA and a lawyer/title company on your team?

Your team will be very important to help you pull this off as your agent will help you find a great deal, your GC will help you stay on budget, and your lender needs to be able to pull off the cash out refinance on the back end.

If they sell you a property and then sign you off to a third-party PM, that's another team you need to vet, and means the TK company has less skin in the game (ie once you close, their work is done).They should have solid, data-backed answers to your questions at-the-ready.

3) Do you have a strong team in place on the ground to execute the renovations?

The origination cost associated with the underwriting team, loan officer, and support staff would be too high for most organizations to make the economics work on this small of a commercial loan.

Also in regards to flipping - make sure you have a very SOLID team in place.

It appraised for 106k and I rent it for 1,800 a month to the baseball team at semo.

Having a team to help find deals would definitely be ideal.