So get this even though my  personal LLC is a licensed Developer with insurance and bond.. the home I bought and was working on in Salem in another of my 14 LLC's did not have the specific license even though I am the owner of that LLC and managing member that is licensed.. the actual LLC needs the license /  or you can skip that and be a GC.

All as if you're going to do it yourself.That way you'll have a pretty damn good figure of what it costs to remodel a bathroom, replace the flooring in a 1,500 sq ft house, landscape a backyard, etc.That'll be an amazing education for you, and you won't have to take a contractor's word for it when they quote you a price.Also I would get the BiggerPockets book for estimating rehab costs too while you're at it:https://www.biggerpockets.com/store/flipping-estimating-physicalNot the answer you were looking for, but hopefully it's the information you need.

We purchased a brand new 4 family unit in Union City, and received a letter from Union City to register for rent control.  

So do your due diligence and make sure that the strategy you know works in California will work in other states as well.If you don't know the area, here's what you'll need:A local real estate agentA loan officer licensed to originate loans in that stateA local property manager (they should have repairmen, contractors, etc. contacts for you)It works best when you have local "boots on the ground" so to speak, meaning friends or family members who can keep an eye on the property for you... which your property manager can do for you, but for a fee.I would recommend reading BiggerPocket's book on long distance real estate investing for a ton of other tips as well: https://www.biggerpockets.com/store/long-distance-real-estate-investing-ultimateIf you have any questions about the Phoenix Metro Area market when you're considering which area to invest in, feel free to reach out and I'll try to get your questions answered or point you in the right direction!

I'm guessing if you sold and bought properties, the rates would be higher than what you have now, so keep that in mind. 

Using this strategy I bought a MLS listing a few months back that was listed for 55k.

I bought my first house at 23 and basically lived in and fixed it up over 7 years.

Doug I have met many mainly when I bought their home at auction because they let their kids borrow against it and blow the money.and of course in my 30 plus years of loaning HM I have seen a bunch of this activity over the years.18 months ago I had a wholesaler contact me ( which is rare because I generally wont talk to them)  but he got through to me and it was a property in Charleston SC were I build.. and the price was right .. but when I did a quick title search I saw that he had recorded a power of attorney for this lady that spelled out that he could sell the house and pay her 100k  and he was offering it to me for 196k.. so I called him on it.. and said hey there.. this lady obviously does not know what she has  the value is in the lot.. so no real up side as is unless you build a new home so for me to buy it at 196 was about market.. 

My fiancé and I bought another house shortly after the one I purchased for a primary residence in a neighborhood that has a lot of room for appreciation.

Bought for 83,500Rehab was 12,000All in at 97,000Comps in the area were 125,000 Sold for 121,000.