@Carrie Hays awesome...are you about to flip it or did you already flip it!

It's a burden I also must carry.

I think you want the house vacant or not at all, assuming you can carry the cost of turning over the house from the get go and carrying costs until you have a new tenant.

The interest carry will eat your profits fast especially if you struggle to get the project done and sold quickly.The easiest way to get started in REI is by wholesaling (which is the assignment of a contract) Once you have done several deals, gained some experience and have set aside some cash then you could try a flip or other strategies.

I would look into something similar to the Lifeproof brand they carry at Home Depot. 

Ow carry over to investing out of state... and having also recently closed on a property in the Midwest, I feel much better prepared.

But... along the way there's all kinds of other factors and variables that would have to be considered like cost of carrying risk of market turn, cost of renting or a mortgage in Vegas,  etc.Grandma and Grandpa are already retired and don't need need complications in their life. 

Realtor does make a difference..but so does months inventory (supply) and DOM (carrying costs).

I lost carrying costs. 

I BRRR’d my first property for the Reno and dowmpayment on this and I won’t be able to carry a huge setback like this.