Hi BPersI am venturing to buy from wholesalers.My goal is to BRRRR.My question -How do I perform due diligence - what are the catches, pitfalls I need to keep an eye on?

DSCR lending focuses solely on the performance of the property.

Hey @Matiullah Quraishi, check out the Yale Appliance Blog. https://blog.yaleappliance.com...They cover a ton of stuff and use their own repair data (which is extensive) on most name brand appliances.What I would do is see how many factory certified repair companies are in the area.

Unless you want to get creative with the current property in terms of renting it out, it isn't going to be a strong performer in terms of cash flow, but appreciation and future potential can be strong. 

Try and get direct access to the court officer / bailiff / sheriff (whomever performs your evictions) and get on their schedule in advance if you can. 

I'm brand new to REI and starting to practice analyzing deals for single family flips.

The best thing you can do to protect yourself is to have the basement tested for mold by a company that does only mold testing and not an abatement company.At the same time, you can send your tenant a letter warning them that they will be liable for mold testing if no harmful mold is found and you will pay for testing if any harmful mold is found.The very next thing we do is; send your tenant a certified letter telling them that if they suspect their health is at risk for any reason that relates to their rental unit then your tenant should not reside in your unit for one more minute and should move to a place they feel is safe because you will not assume liability for exacerbating their health issues, if any health issue in regards to mold exists.At this stage, all communications must be in writing and well-thought before communicating.Your situation has happened to us several times and we had a tenant who lived in a brand new unit for only 10 days and he told us he was vomiting and had nose bleeds that resulted from mold.

Specifically, you are performing middle man work on someone else's deal and linking people together.

I purchased a non performing note on a vacant property a couple months back and would like to start the rehab during the lengthy foreclosure process - I am under the impression that since I technically do not have possession of the property I am only able to work on the property through a receiver.

Their name is their brand.