If you expect to create significant wealth via RE passively in 7 years, it is my belief that it is unlikely in the current high rate, high priced, highly competitive market. 

It's a higher priced rent but very desired location, updated, and compares favorably to others listed in the area --- and still priced competitively.

It's not a competition between the two anymore than a foot race between a snail and a cheetah. 

It is hard to win with 3.5 down in competitive markets as well right now.

Unpopular response: Didn't he verbally tell you it'll cost $30K? 

Many of these platforms also send the same leads to multiple agents.Since most of these paid leads require work/follow-up anyway, have you thought about paying less $ for leads where there is significantly less competition?

,My stable consists of:1982 Mercedes-Benz 300D Turbodiesel - 27mpg regularly, few repairs, 192k miles, low insurance1998 Mercury Mountaineer, 16mpg, reliable so far. 130k miles2001 Mercedes-Benz E320 21mpg, reliable, 115k miles.My personal favorite is the 82; my costs are so low and it keeps me from speeding.

Then have a Roofing contractor go out to the property and tell you how much it will cost to fix the problem.

We're funding deals with as little as title costs/insurance to close for experienced borrowers.

Less Competition - High-interest rates and market uncertainty may deter some flippers, reducing competition for distressed propertiesMarket Demand - In some areas, there remains strong demand for renovated, move-in-ready homes.Price Negotiation - Sellers of distressed properties may be more willing to negotiate in a high-interest rate environment.Cons:High Carrying Costs - High-interest rates increase the cost of borrowing, which raises your holding costs (interest payments, taxes, insurance, utilities).Market Volatility - Real estate markets can be unpredictable, and high-interest rates may lead to slower home sales and declining prices in some areas.Renovation Risks - Unexpected renovation costs and delays are common risks in any market, and high-interest rates exacerbate the financial impact of these issues.Financing Challenges - Securing financing for both the purchase and renovation can be more difficult and expensive in a high-interest rate environment.Mitigation Strategies:Thorough Market ResearchAccurate BudgetingEfficient Project ManagementFlexible FinancingExit StrategyFixing and flipping properties in today's market can still be profitable if approached with caution and thorough preparation.