I know investing in real estate is never completely passive, but from those of you with experience in larger properties like this, what types of situations typically come up that the owner has to resolve or become involved in?

I cannot speak directly to the Houston market as I am primarily focused in NH and MA, but I figured I'd share some insights and thoughts I have based on what you've said.First, you do not have to be handy to successfully complete a fix-and-flip, AND, you don't initially have to have any contract contacts.

I monitor the Houston forum, so I have read many of your posts - The primary theme I see in your posts is that you generously offer your time and expertise to new investors and allow a group of new or wannabe investors the opportunity to walk your flips and tag along with you while you are looking for or working on a project - very generous of you - I see that you were able to give an amazing opportunity to a new investor when she may have not had the confidence to move forward on her own without your guidance - I am a fan of collaborating with other investors when you do not have the funds to complete a project on your own ... it can be a win/win opportunity that otherwise would have to be passed up ......However, when I read the details in this post, a few things come to mind - it seems that you used very little of your own money ...$5,000?

I want to do this in and around the Tacoma, Olympia, and JBLM area but I am completely open to any deal that comes my way.

In 2016-17 I had the opportunity to take another family owned property in NY and completely rehab it into another rental. 

I know I could pay for work as it gets done, but I'd want all work completed within a 4-5 month time frame to get it rented out and start generating income to pay off the CCs.

I would love to buy one to keep and completely renovate it and lease out to a business or possibly run the business myself.

@Nick Causa Unless the refi is absolutely free, it makes sense to do it once (after both units are completed).Best!

I have a unique situation wherein the property is owned by 5 siblings and they all agreed they want the oldest sibling to sign everything on their behalf, so they want to complete a power of attorney form to give him the right to sign.

There is a big learning curve to doing this wellThis type of deal is best done with someone with a decent amount of experience....it can be done, no doubt and be very successful.....but for a complete newbie?