Going in my plan was to spend about $45k and 3 months and the Hope was to refi for $200k+ to pull out $145k and then rent units for $600 each, and cash flow around $500-1,000 each month and pull out my cash investment and in essence have a performing that I had only $10k-ish of my cash invested after the refi.

Our 4Plex is performing great and it has been the best move we have ever made!

Identify what you do the best out of all the tasks performed on this flip and same for your partner.

People think I'm crazy for having an accounting degree and wanting to move away from traditional W2 income into performance pay.

I figured the 1b1b perform better throughout the year where something like a 3b3b performs better at holidays, but as a whole which performs better.

If like in my case I put up 40k in cash and the seller would not give it back because they would not close.. then yes I sued for performance.. too much money to just let them walk.. 20k later and almost 3 years of litigation that most people don't have the time or money for I won..

The other 10% should NOT be performed by 1st timers.

The same way you would hire a wedding planner, and sign a contract to know that they will perform, and they know that they will be paid for the work they do for you, it's a win/win.

Is it stating that home has specific repairs or stipulations that need to be performed in order to obtain home?

@Justin AbdillaAll of this does make me wonder about FHA, VA and other PMI non performing notes as an investment though.