Understand that it is a two way street.  

When issues come up, you can feel "squeezed" without the right understanding and agreement in place4.)

One important piece to understand is that investing breaks down into Time, Money, and Skills.First purchase: 50/50 partnership.Second: 0% Down Seller Financing.Third: 15k down seller financing.Fourth: 50/50 partnership my partner brought all of the capital and I manage the community.Fifth: 0% down seller financing utilizing cross-collateralization of another property (A SFH that I owned outright)Sixth: 0% down seller financing utilizing cross-collateralization of another property (A SFH that he was okay with being in second position on)Seven: Seller Financing 300k down (I bought this in my fund and raised capital through that vehicle), 0% interest loan for 3.5 years.Eight: Seller Financing 53k down (I bought this in my fund and raised capital through that vehicle), 4% interest loan for 6.5 years.The biggest takeaway I want a reader to get is that there are a lot of different ways to make a deal work. 

Ask your tech if he understands the HVAC requirements of Manual J,S and D.

You need to understand if the PMC will be advertising your property on the MLS for other agents to show.

IMO understanding how NC contractors laws/requirement is important.

Working with a lender who not only understands but can communicate this trade-off for your situation is essential for not spending too much money up-front but also not paying too much each month.- Is what’s publicly advertised (for example, interest rates are at 6%), the best available terms a borrower can get?

Your response has been instrumental in shaping my understanding as I navigate this exciting journey.Thank you once again for your generosity in sharing your knowledge and taking the time for such an extensive reply.Best regards,Jonathan

Considering FHA 203k for your BRRR adventure is a solid option, but here's the lowdown: prepare a minimum 3.5% down plus renovation funds, stay within FHA loan limits, and understand the refinancing process after a 12-month seasoning period.

The most important thing to understand is there are good deals everywhere, and there's a learning curve wherever you want to start.