I have purchased owner finance deals with higher percentages (7-10%), performed renovations and refinanced to a much lower rate after a few months.

This assumes that everything is brand new when you purchase it.

Hey everyone, I'm brand new to this but I'm really excited and motivated to make a change and begin building wealth and a future.

Landlords mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.This also leads them to ASSUME simpler is better when it comes to management contracts.

If they are passive and they are profiting based on performance, then you are dealing with securities and should set it up as a syndication, for both legal and tax purposes.

Are you paid out a certain amount based on the capital provided to the 'flipper'.Are you paid a fixed fee per flip that he does regardless of how well the flip performs?

A lot of cities have some organizations to help local people find place to live.Reach out to local churches/hospital/performing center/university if there are any there.

@Ted Hendry hire a high performing property manager that has seen everything before and will make these calls for you.

Landlords mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.This also leads them to ASSUME simpler is better when it comes to management contracts.

Added a brand new basement, added a 600sq ft master bathroom using attic space, added a eat in dinning room where the old stairs went to the attic approx 78sq ft.