We like to raise rent to 50% between current rent and market rent; keeps you making progress, keeps them for moving if they are a good tenant.

If your realtors find you a great flip, let them list it at 6% so that they can keep finding you great deals repeatedly, pay them for gas and food if you’re investing remotely and they check on the properties for you and take pictures for progress updates, etc. 

Linda Hi Linda,Congrats on your progress!

A good contractor should have his people ready while you are checking up on the progress every 7-10 days. 

In the end, we found an off market deal and had it under contract with seller financing at 0% interest within 24 hours of hearing of it, with in place rents projected to yield over 9% COC in year 1, so I have ZERO regrets about how we approached this deal and so far am very pleased with how it is progressing.

And yes, like said above, get some momentum and progress with your debt pay down first before you buy the next property.  

We have a few long term options on some pretty strategic land in path of Progress we got from the farmer once entitled will be sold to home builders in one case its a 120 acre industrial site that will sell by the sq ft.  

I have been able to do just about everything remotely and usually drive down once every month or two just to see progress on a few projects, or go for a day trip to get away.I've had this nugget of an idea.

My business partner and I worked on getting flips done as our primary income generator and have found buy and holds as we progressed through the last 2 years. 

If anything this is a natural progression.