I'll add - Although the note is secured, the wholesaler is taking on risk that the flipper won't perform on the project, risk of title flaws, permit issues, entitlement issues, environmental issues, unpaid taxes, etc.

Because of the pandemic I moved and am now working for a single family home builder in Northern Alabama (Hyde-Homes).Coming from an older city I have seen thousands of different building types, styles, heating, lighting, flooring ect.

There are a lot of compliance items, including reporting, inspections, racial quotas, low-income employee quotas, requiring tax returns of low-income contractors, affirmative marketing requirements, evictions only for repeated violations and good cause, no waiver of jury trials, environmental oversight, etc.A lot of these local and federal compliance requirements are a real pain. 

My wife and I are based in Austin, TX and we're in the process of purchasing a home – we close on 4/28/21.For context, we're taking on a bit of a project, an old cottage-style home (built in 1948) located in Central Austin (~5-6 miles north of downtown). 

I need IKEA style.

And you might want to consider some type of environmental inspection in case the old system contaminated the soil but with some due diligence you can make sure you're not buying a lemon.

Hey BP,My wife and I found an 8 bedroom, 4 bath property that used to be an adult care facility that we were thinking about renting out the rooms to military personnel since it is located very close to a base.My question is do you think this is a good strategy and that military personnel would be okay living in a dorm-style setting such as this?

Purchase price: $185,000 Cash invested: $235,000 Sale price: $658,000 Purchased an older ranch style home, remodeled and added an addition which value added 2 additional bedrooms, master bathroom and large office along with decks, stone entry and solar panel.

They'll give you a sense of the investment style of the author as there are different styles to invest which differs from investor to investor.

My favorite, they encouraged us to rip out our lawn and put in hardscaping to save water and be environmentally conscious.