Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Will be a learning experience either way but I think this can get rid of some of the risk involved. 

Especially if there is any real bank loan involved.

For those who have 5+ flip projects going on at one time how do you track all of your expenses and stay organized?  Is there an app out there that I can quickly scan a receipt into an accounting system and have the ab...

@Michael Noto No, I haven't yet because for the most part, everyone willing to live in this neighborhood has crappy credit and I hate to charge people that won't meet my other criteria the fee so I look at everything else first to rule out unacceptable tenants (court records for multiple evictions and violent crimes, bad references, facebook posts showing undisclosed pets etc,etc...)

@Joe Tomko what’s the risk involved with the delinquent mortgage notes?

I am unsure as to where you are located, so 50k can get you multiple down payments or one depending on where you live.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

If you don't then it is beyond your skill set anyway.Why even consider being involved.

@Krystal Stone You have multiple options...but you have a definite plan it sounds like.