I wouldn't even consider this scenario if you have no business managing a flip, and you have never done renovation projects, as that is an arena where you need to have built experience and connections to just be OK.Let's consider that you decide to save just enough ($75k) and grab a $300k single-family rental with 20% cash down (plus closing costs) and you just rent it out (not owner-occupied) and you have limited reserves.  

Most work this way BTW Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV)100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

On one side, it seems to involve a decent amount of expenses/high cut out of the agents profit.

Careful in IB.....I used to have a business there and learned about good ole IB. it keeps creeping up the social ladder, but IB will always be IB. 

Amazon Amex - 5% back on all purchases on AmazonFidelity Visa - 2% back on all purchases dropped into my brokerage accountAmex Business Platinum - Points.

I feel ready to jump in to my next deal and love the thought of a triplex, but I know there are risks involved; especially since I don't know what I don't know.

Cory - get involved with ACREIA.org or SCREIA.org. 

My business partner at my ad agency was also the marketing director for cardone training technologies.

Hi AllWe are selling our gas station/property and provided the buyer with the past 3 years business tax returns and are doing an inspection, but I received an email form the buyer saying their banker is asking for my Schedule E, why would they need my Schedule E for the loan?

The way to do this is to purchase the Plus subscription of QBO and use the Business field for each of the different LLCs and the class field for each property.