It can work if you set clear expectations from the beginning.

There were surveys out for the last two, three years about the expectations and what people want to see as far as schools, shops, safety, street lights etc.

I think it is smart to have a minimum cash flow goal, because anything less than $100 - $200 per door could easily be eaten away by higher-than-expected repairs or utility bills... and then you end up in the negative cash flow zone.

Don't expect crazy appreciation, but you also shouldn't see the markets crash if the economy turns. 

If turns out to be a rental (which is my expectation) then I will bank the cashflow and work towards the BRRRR strategy to add another property in the near future.What I’ve been doing lately to make dreams realty:-Listened to one or two BP Podcasts a day-Spent tons of spare time on Zillow browsing properties-Identified a single family property that has real potential to be my first deal-Gotten an insurance quote and dug up tax records on the property-Talked to a couple area realtors and chosen one whose background and experience best fits my goals-Toured the property-Crunched tons of numbers based on different scenarios-Arranged a second showing for tomorrow, with a local contractor who will be joining me for the showing to provide a quote on the work that would be needed.I am super excited for tomorrow!

I fully expect with EXP through the revenue share program I'll be working at 100% year round including the low monthly fees and once a year education fee.   

Aside from having to put 10-20% down to secure the loan, what can I expect to encounter when dealing with hard money lenders in terms of interest rates, points, getting the funds from them to pay contractors/buy supplies, etc.

@Jay Hinrichs that is what I was expecting, finding them down dirty and rehabbing! 

It really blew me away, and seriously cut in to my expected cash flow.

I mean a crushed credit report would suck but it’s not exactly hard dollars.Anyway, expect the owner or their agent to say (with an incredulous tone): Why would I want to do that?!?!?!