@Celine Besson there will be several challenges:1) Finding a Grate Property Management Company. - See our copy & paste advice at the bottom of this response.2) Managing the Renovation- Everyone thinks a PMC can easily do this. 

.- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

Just wanted to introduce myself.My name is Ariel, I am 32 years old (this Thursday), and I am making my first steps as a real estate investor.As I live abroad, most if not all of my work would be remote, and right now I am focusing on Jacksonville, FL.My main goal for this year is to fix and flip  at least 2 SF's properties, and for the next few years to increase this number, maybe do some MF, and possibly to also BRRR when I raise enough of my own capital.At the moment, my biggest challenge is the fact that I am remote, so I could use some help from a local realtor or management company.It's so amazing to know this community  exists, and I am thrilled to actually take part in it

Challenges?

They barely lasted in California (they are based on London).The challenge is (1) you are assuming all listings have open houses and (2) there are a lot of moving parts that can happen behind the scenes.

So, if your current rent roll is still on the lower side, it could limit the amount you can borrow right now.However, if you have even a partial track record showing improvements.. say a few of the units are already updated and attracting higher rents.. a lender might take that into consideration when underwriting.

Challenges?

Plan to make some tenant improvements to push rents closer to market rate for the area.

Not having experience qualifying prospects I would think that the leads you would get from here, if any, would be..... challenging. 

." - which to me indicates the same doubts that I have about the legality of the IRS position.Until the IRS is challenged in court over this position and loses, I choose to comply with their position.