Once use of property is defined, then rehab, rent out, refinance and repeat is the goal.

@Simond Wong you need to provide the contractors with a clearly defined and detailed scope of work including all the finish selections.

:Generally speaking there are 2 permanent loan types for "buy and hold" investors: Conventional and Portfolio.Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac (if you recognize those names).

I can tell you right now that it is a rare thing to have a purchase situation where you are getting BOTH cash flow (properly defined) AND appreciation.

First define your buying criteria and then conduct detailed research on data metrics pertaining to each market. 

That's why many investor would define cap rate as the return you would expect from a deal if you were to pay all cash (i.e. no leverage is used).

Generally speaking there are 2 main loan types for investors:  "Conventional" and "Portfolio"Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac (if you recognize those names).

Once achieved, employment status will be revisited in order to maintain some income and benefits such as medical insurance, dental insurance, etc.Market: The business will initially focus on residential zoned single-family homes that are located in class A and B locations that contain class B and C properties.Class A locations are areas with the newest buildings, hottest restaurants, best schools, wealthiest people, and highest-cost real estate.Class B locations are defined as ones with decent amounts of restaurants, schools, and people (ie “middle class areas”).

As you stated, it's important to first define your investing goals.

@Robert WhiteWhat is more important is to define your future partnership: who brings what to the table, who is responsible for what etc.