I moved to Colorado from Texas before I started learning about real estate and acquiring the skills I think will make this feasible.I have a good relationship with an excellent contractor who has been working on flips in the area I'm researching. 

I have a rental property in NC that I recently acquired for 120k. 3 Br 1bath.

If you use the money to acquire another rental property and it is generating passive income, then that income may be offset by any passive losses generated by your first rental property due to the mortgage interest deduction.

Something along the lines of “I have scheduled my contractor and insurance representative to meet on site and determine if there are any issues requiring remedy.

Scenario: I’m trying to use the FHA loan strategy to acquire a home each year.

If you decide to go for it, make sure the company you use to remediate, has been at it a while and offers a transferable, lifetime warranty.  

Owner may, on fifteen (15) days’ notice to Contractor, terminate this Agreement before the completion of the Work, and without prejudice to any other remedy Owner may have when Contractor defaults in the performance of any provision of this Agreement, or fails to carry out performance of the Work in accordance with the provisions of the Contract Documents.

I set a hefty goal for myself for 2020 to acquire 10 units this year.

The problem is that once he/she calls these issues out, you or the seller must remediate these issues before the loan gets approved.

Acquiring below market and implementing a value-add improvement plan will result in a portfolio of properties that appreciate over time and that also offer significant tax advantagesPick the right market – not all housing markets were impacted in the same way during the last recession.