Typically the HOA fees are too high and eat all your profits. 

They are part of a condominium complex where renters have access to all amenities: typically one or several pools, a gym and yoga room, a spa and steam room, a kid's club, one or several bars, underground parking and a private outdoor area for residents.

I do agree these are high risk areas, but in my opinion the reward is even more substantial because it's essentially inorganic gentrification which could drive up prices exponentially.

Also keep in mind non-rehab related costs such as holding costs (utilities, taxes, mortgage payments, etc) and selling costs (commissions - typically around 6% total, staging - if applicable, etc).

I don't know if they typically work with a relocation company when their new hires have to move from far away.

For multi family properties the typical refinance loan amount will be based on a LTV of 70% to 75% of a new appraisal.  

I essentially pay myself for my own time.Capital gains from flips.Any suggestions on the situation would be helpful.

This contractor had a very specific task that they essentially defined. 

Deal analysis is a great first step into note investing.I should mention I invest in 2nds, but typically the value of the property drives a lot of factors for valuing a 1st mortgage.

typically with my rentals there, my property manager is able to get a new tenant in less than a month in most cases.