I've discovered that most private lenders prefer borrowers with some experience, which I'm working on building now.My main focus is on my exit strategy.

Basically, befriend someone with experience, read the book on estimating rehab costs by @J Scott to get a ballpark, and get reps.2.

@James LuctamarIn our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING. our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

Also I'm speaking from experience in losing a significant amount of money trying to do something similar. 

How are you planning on flipping out-of-state with no experience?

How was your experience?

Would love to hear people's experiences in these markets or recommendations of other markets that are more on the "untapped" side.

It helps you find reliable property management partnerships and gives you everything you need to make confident hiring decisions, like:Expert Matching: Match with professionals who meet your criteriaExtra Assurance: Licenses, experience, ratings, reviews, and more that can be cross-checked with BiggerPockets membersBonus Content: Receive an essential interactive workbook: “How to Interview Property Management Companies”

Unless you have experience with this, consider talking to an attorney.

California, to my pleasant surprise passed a new law that went into effect January 1 that allows property owners to file a Letter of Agency with local law enforcement which notifies them that the property is vacant.