Gaining a market sense AND people skills are a whole other matter.

My goals and personal skills point me towards the buy and flip and or hold side of things.

Sponsor in these deals in my mind is far more important than the deal.. there are deals everywhere that's not hard to do.. finding qualified ( VERY EXPERIENCED) sponsors who have been through many economic cycles is hard to do.

You have one qualifying person. 

It qualifies for like-kind IRS treatment so it can be a great backup option.

When it gets closer to us being able to qualify for any kind of mortgage we will probably get with an attorney to understand if an LLC is a good idea right now.

However, when the appraiser, whom BofA hired, came to my house, he submitted the report to my Lending Officer at BofA that I needed to re-paint and fix some of the damages on the exterior of my house before I could qualify for the loan. 

@Dustin Rand, at the risk of oversimplifying it, only one of those options takes advantage of all three skill sets equally. 

A common theme among the homes that would qualify as a BRRRR opportunity are that the properties would be very aged and typically need and entire gut job to be done correctly.

If not, you will likely need to partner with someone else who has the ability to raise capital.You are definitely going to need a sponsor for your first few deals to help you qualify for financing.Personally, I have a track record in investing (I own 13 units) and have the honor (and luck) to work with apartment syndicator Joe Fairless for the past three years.