I know the risks of doing business with friends and family, so I don't need to know the pros and cons of that relationship.

Some pros: 1) He seems very familiar with the property and has handled maintenance and small work orders for the owners for a long time. 2) He is on call at all times. 3) Seems very engaged with the residents.

Hello BiggerPockets Community, What pros can cons have you encountered with out-of-state buying-rehabbing-and flipping?  

Check on the status of the location and that it has more pros than cons.  

I have always been burnt by these so called pros and I want to make sure I do it the right way this time.Any advice would help guys.

The theme here is that there are many financing options available for your deals, each with pros and cons to consider. 

I've been to the one in Factoria and there were several investors there (retail folks, pros, etc).

Are there pros and cons I am not thinking of? 

Are there pros and cons I am not thinking of?

He is open to flipping, buying rentals, JV investing etc... but each has pros and cons) We are in the LA market: so flipping with 50k is very difficult: (unless he does hard money on a purchase price that is really low somewhere far away from us: which brings other downfalls).