Flipping is a high risk high reward endeavor, especially with people just starting out. 

The last two years I'm basically breaking even on the rents, but after cap ex I'm out $2000-$3000 so far.

We have had numerous Clients come to our property management team that were told their property was in great shape and basically move in ready only to have our property manager walk it and have a list of 20+ things they find that should be done before placing a tenant.

I'd love for anyone to connect with me as I hope having people to talk to about all this will help make my first time jitters go away easier.

I'm trying to find people who are actually doing it to check that the theory works.

There are 2 types of people who dog on Detroit.. 1.

My understanding is I am supposed to get a home equity loan, basically I'm borrowing against my house?

@Tejani Jeet BhaveshThe debt does not go away it is just unsecuredIf you are a borrower and get foreclosed on if the debt is not paid off it does not go away - it is just unsecuredOnly way for it to go away would be pay it off or bankruptcyYou are seeing a lot of articles on zombie loans where people lost homes or kept homes but were underwater and old mortgage lenders are coming back after them as the debt is still valid and they thought it went away

Hi Corbin,The spreadsheet I have uploaded in the BP file place is our Lite Version which includes the Rehab Analyzer & Estimator tools for analyzing rehab deals & estimating rehab costs.The Basic Version you mentioned adds in Reporting so it basically takes the data you enter into both of those tools and generates a printer friendly Investment Report & Estimate Reports that you can print and give to your business partners or lender.As far as Project Management, there are plenty of general Construction Management software solutions available for managing new home builds, remodeling projects, etc, but often times those tools are specifically built for Contractors that are working with homeowners.  

I have a higher nightly rate because I can sleep more people, my taxes and insurance are higher.