I've done this three time for rentals and I've had to wait 6 months.

For more than three decades Dr.

I have had three 600K+ rentals (two in Park City and one on Maui) that did not cash-flow well, but appreciation was awesome!

@Joseph Sinclair Welcome.Ever think about a duplex or three?

This is known as the self-sufficiency rule.

After three months and every thee months after that would be a common strategy for Probate. 

I have done a few flips with some people I know but it was in Texas and unfortunately the money people didn't want to listen to me or other contractor (brother) about where to spend money and where not to so the three houses I did and spent a lot of time away from home to do didn't net me anything.  

Here is the latest example of a neighborhood of local residence protesting in front of a 6 thousand square feet hour house that just had $350,000 in renovations three years ago and will be town down for a larger home to be built.

@Briana EcholsI have been in the real estate industry from the lender point of view for about three years.

Hello Axel, As a RE agent, I always recommend three or more vendors.