It states the below:“Engagement and Representation AcknowledgmentThe undersigned parties, Purchaser(s) and Seller(s) acknowledge that they have been notified by XYZ, LLC (“the Firm”) of the following:The Firm represents only the Purchaser in this cash purchase transaction and may only be relied upon by the Purchaser to represent them or advocate for their interests in the transaction.

I personally don't want to rely on this and only have 5% of my total assets in the market.

But if you have to rely on getting other people there, it may be a huge headache.These kinds of properties typically sit on market for a while because they're for a very particular kind of investor.

The benefit for most of them is that they will most likely not rely on heavy debt for the coming year and they are well diversified to not be as affected by declining rents. 

Also, being self employed, I've also had to rely on creative financing, DSCR, etc. 

If you rely on direct mail to bring in deals than I suggest trying another strategy.Hope this helps,Carl 

Lesson learned: Do not rely on depreciation, treat it as a bonus.

Properties which only break even and rely on increases to turn a profit don't meet my criteria, but they may meet the criteria of others - everyone approaches RE investing with a different perspective.

All of this really changes the type of advice that should be given as we can't rely on what we did or use to do, but it should be kept in line to current and even changing philosophies in the lending arena.

As someone on the verge of their first deal and making a very similar decision to yours, I can contribute this....The one complaint I consistently hear is that good contractors are nearly impossible to come by or that it takes a long time until you find one you're comfortable relying on.Also, many rehabbers/turnkey investors already have a line on cheap properties, bulk material rates and a crew at the ready, so sometimes what you're paying to them (60k, for example) will end up being less than what you'll pay to rehab a 10K place yourself and you can have it rent ready right out of the gate.Depends on if you want to get down and dirty and learn all the hard lessons up front on this first place.