I'm a buy and hold guy, but I typically find that in less than 5-7 years I have enough equity that it makes sense to 1031 into something bigger and better.Good Luck!

We’re meeting about once a month typically on Mondays around 7pm.

What is a typical split on commissions with your broker? 

Chase Gu you typically need to have 50k liquid to go into a deal.

Yeah, I'd imagine this is pretty typical.  

The seller insisted that I use his attorney as the escrow agent, which I typically don’t do, but the deal was relatively cut and dry so I was agreeable after drafting favorable escrow language.

Obviously we typically talk about brrr as finding a distressed property and making sure that all-in with rehab costs, the project costs around 75% of ARV in order to do the cash-out refi after seasoning. 

The red flag should be the price of the duplex and most likely the seller is just noting cash only as he know lenders typically won't lend to anything <$50k and he's trying to avoid owner financing.  

Also, if you are doing tear downs and or large additions n higher end markets, you can’t use the same template each time for everything, but you can for some items (paint colors for instance).It is efficient to have name, description, item numbers, etc on a spreadsheet of items you typically buy which makes ordering materials quick and easy.

Typically, if you make less than $100K in real estate income, you can take up to $25K paper loss on depreciation.