Quote from @Laura Au: Hello BP Community,I am first time flipper looking to identify an out of state market to do my first flip to generate cash for investment business rather than the buy n hold strategy.

After we live in it for at least a year, we will move out of the 4th unit and buy another multi-family and do the same thing.

If you want a true duplex, you'd also need to make sure zoning would allow it vs adding a legal suite.Why not just buy an existing duplex?

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They'd be taking over an 80k loan and buying the property for 125k. 

@Eric MartelMr Martel, with the significant jump in interest rates the last several months, are you still finding buy and hold investors to purchase the properties after the flippers have done the rehab and placed a tenant?

A lot of the conversations I had with the realtors that showed it had the same feedback, that for the PITI payment on this property, their clients could probably buy and new build and still pay the same thing (The house was situated rather close to a couple of new build communities).

Hello,How do you build the self-confidence to approach a property owner about buying their property?

The Bay Area will take more capital energy and buying in the Midwest will take more time energy. 

If I buy a property with tenant in place, do I need to inherit the existing lease terms?