Wholesale, foreclosure, and seller financing can work too, but I’ve noticed that careful analysis and having reliable local contacts often deliver the best results over time.So as you two gear up for your first flip, how are you balancing the potential risk with your long-term goal of buying rentals?

I agree with Collin.The Smokies do have a lot of competition, so you need to have a view, decent location, good to great amenities etc to stand out.We have a 6-bedroom cabin there, but I imagine a 3 to 4 bedroom would be in the sweet spot of not too big or not too small.

She's not going to have any leg to stand on in court if you get that far unless there's some explicit language prohibiting the owner from assigning responsibilities to another legally authorized party, and I'm guessing there isn't if another PM company was maintaining the lease and provisions - and the fact that the tenant was voluntarily working with the other PM confirms the acceptance of an authorized agent even if it's not explicitly stated, the same way if you accept rent from a tenant after a lease expires you imply acceptance of the lease terms continuing (which is why you should always have a holdover provision). 

Plus say another 4 feet with the person standing. 

I only operate 1 house I bought this year, but I'm eager to stand out in the competition.

Can anyone recommend some stand up lenders I can speak to?

Most rental properties in Milwaukee are old and run down, our product stands out. 

The property is a 3 bed/3 bath and it was engineered to have the ability to lockout the basement 1 bed/1bath studio as a stand-alone unit. 

You can't really predict for a creative business mind and how they might craft a guest experience that stands out in their market. 

Complicated post and I realize this might be more geared to a CPA, but figured I would try here and see if anyone else has come across a similar situation.