I would recommend getting the basics of the basics on the process before approaching a mentor, save them for the advanced stuff :) This being said, you shouldn't have a hard time picking this up if you know how to manage a project/crew.- find a home that needs repair, preferably off market so you don't compete with retail buyers.- walk the property with a contractor or specialty contractor(s) (electrician, plumber depending on the issues) to get an estimate(s) of the rehab.  

As you fellow Investors and Small Business Owners approach the end of 2021 and may be considering outsourcing… -your monthly bookkeeping-a full 2021 books cleanup-or, even having your books professionally set up for the first time (I’ve been there) … Here are a few introductory questions to consider asking when interviewing a myriad of Bookkeeping Professionals to see who is the best fit for you and your business(s). 

However, if the seller is not open to that, the best lenders to approach for smaller deals will be local or regional banks, or credit unions.

@Wendy Williams yeah, that’s the conservative approach and there’s nothing wrong with that if it aligns with your personal goals and sitaution. 

The Extensive rehab inclusive of an ADU addition would be about 90K for a 2bed/2bath unit (1500 month rent) with a 1bed/1bath unit (800$ month rent).  450$ a month in cash flow more background: I live and operate in a small rural market doing most of work on my own rehabs, kinda the one project at a time approach. 

If you have NOT been sued, then you can only hope that your no-LLC approach is good enough.To clarify, I'm neither for nor against LLCs.

If not, I’d approach her with seller financing.  0 money down with infinite returns so there’s no cash in the property.

Doing away with a pool is an expensive proposition and in many cases could approach $10k.

Then I was approached by an agent who pitched the strategy of purchasing a new build town home and renting it out by the room.

In theory this gives me the deepest conversation first with the seller on the rehab costs, permit issues, major items etc, to be in a position to negotiate an appropriate price.Down sides is....I would spend a lot of time and money on inspections on homes that may not close and my realtor is writing lots of contracts.Up side...I get first right of refusal and a strategic advantage in a competitive market.Is this approach legal?