@Kacie B.I’m thinking of doing a deal like this to start buying farms around the country with investors to build a business enabling and encouraging local sustainable food communities.

.….my assumption was that the proper rehab would be done so that there's virtually no repairs needed for a few years.

You could find that not only do you gain a better deal (discount / profit at the point of purchase) and better cash flow (profit you can spend or use in the future to enable refinance and draw down a tax free lump sum) but also gain from a faster rise in capital value outside of London.

.#5 Practice, Practice, PracticeWalkthrough potential rehab properties (or find properties virtually online) and practice creating detailed scopes of work, quantifying repairs and estimating rehab costs for the projects.

Enable them don't spoon feed them. 

Whether investors have written out New Year’s resolutions or annual goals, virtually everyone has aspirations to make more money in 2018.

Serious Real Estate Investors Use LLCs: While brand new investors often try to bargain and justify reasons for not using LLCs or other forms of incorporation, all of New York’s biggest are virtually done in the name of LLCs.

This enables me to use a Lease Option on my first property, creating cash flow.

The basic process for reimbursement is:1) I request a draw for a certain amount and specify which items were completed.2) LimaOne sends out an inspector to ensure the work was completed.3) I receive the funds after ~3-4 business days.The problem with this model is that it doesn’t actually enable me to pay the contractors in a timely manner — the money is essentially inaccessible to me, so the end result is me paying for a high interest loan on funds I can’t functionally use while I fund the rehab out of pocket anyway.

Btw, these can be in person or virtual as long as they qualify as these relationships are pre-existing.