So far, it's been a great decision as my wife is having fun and we're turning a profit.

This profession can be tough, especially when starting out for reasons mentioned above, but it is also extremely rewarding, fun, and allows you the freedom to live life the way that you want to live it rather than sitting in a cubicle being yelled at by 4 different bosses about a deadline.  

I had to do that last month with another property that they were managing poorly   :-(  Good start but get prepared for more fun my bet is on the bailout.  

Fun discussion!

Modest flip, basis 120k, 20k reno, ARV 180+, not exactly 70%, but a fun project near both our personal houses.So I guess in this case we couldn't form an LLC to hold title because then I'd assume 50% ownership in a property with no skin in the game...other than paying for inspections, etc.

Sounds like a fun and cheaper alternative. ewe_sneeze is his IG handle for his renovations...He is a real nice guy if you want to message him, im sure he would let you know his process or at least direct you to the YouTube page he learned it from :)Good luck!

This is why a commercial development and investing is so fun.

@Marshall Downs thats awesome sounds like it was a fun project.

Since you don't want to get your real estate license, working for a property management company is an ok hybrid, but not what I would call fun.

Have fun!