Hey folks,As a newly licensed real estate agent eager to venture into house flipping and long-term rentals, I'm contemplating positioning myself as an investor-friendly agent.

Also using a percentage of revenue is inherently flawed, I assure you that whoever you have doing your maintenance or improvements will not base their pricing on what you receive in rent.That said I understand that some we need to have some convenient way of budgeting for these expenses.

It means we have to be a bit more vigilant and remember to obtain the policy before the binder expires.Similarly, make sure you understand whether the insurance company is “admitted” or not.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

I understand how to get the value of the park.. not sure how to get the accurate value of the SFH since it’s all on the same parcel of land.

Realize that 90% of your friends and family will also want a deal and probably think you are rich for owning a vacation home and do not understand that you most likely have a mortgage and bills and upkeep on said vacation home.  

From what I'm understanding, a DSCR loan is only possible if the house has a tenant in place and is cash flowing? 

Out-of-Town Buyers: I understand the unique needs of buyers looking to relocate or invest in Northern Michigan from afar as I personally went through the process when we moved to Traverse City in 2017.

I'm trying to understand the advantages of DSCR loans over other financing options.

Once again, trying to understand how to structure the deal and needing to get a good spreadsheet to calculate the flip.