Understand your tax obligations and fees to stay ahead of the game.Choosing the Right SDIRA SherpaYour SDIRA journey requires a reliable guide.

I'd recommend David Greene's Pillars Of Wealth for you to make sure that both you and your parents personal finances has a solid foundation before we start our real estate investing journey.

If there is a REIA or meetup not too far, definitely join but be cautious until you get a solid sense of the agendas, knowledge and honesty of the participants.  

Using these two team members is the best way to get a solid first deal. 

My understanding is that so long as they confirm that they're moved out and give me the keys, I'm well within my rights to just have a junk remover / trash company take whatever was not there to begin with, and deduct that from the security deposit?

Hi Julia, Starting out in land flipping can indeed seem daunting, especially when you're facing high costs for educational resources and feeling the pressure to make smart investments without a solid foundation of knowledge.

Quote from @Chris Seveney: @Eric McginnI would only recommend it if you are ok with also having a strong chance you will have to foreclose at a later date on the borrower and go through that process .Thank you for this, it’s helping me understand how it would work.

But you just need to understand at 6 month time, getting ready to find another tenant or hope the tenant is not ready to move out and pay the 25% increase rent on month to month.

@Elton Tate first, you need to understand the difference between loan fees and transaction fees.Areas E, F & G are outside EVERYONE's control and you'd pay all but G if you bought with cash.So, your Closing Costs are really only $5,932Now, $200 for a credit report is crazy unless they are pulling Dunn & Bradstreet on your LLC.Title charges, except for closing fee, are regulated by the State of Michigan Insurance Division.Why aren't you working with someone that knows all this?

The flip isn't always as fast but it's a very sustainable model with excellent margins.As for the "Where", just focus on a place with solid market dynamics where you have a tangible competitive advantage.