It'd be great to find something where we could add a bit of value and optimize management/profitability, but on the same token, I'd rather stay on the more conservative side to avoid catastrophe on deal #1. 

Hey @Peter Roehrich, let me be first in line to congratulate you on taking action to achieve your dreams!

However, I would determine what exactly your goals are for the next 1, 3 and 5 years financially and how you can achieve those goals through real estate.

In order to achieve that I have to ask the New PM to connect their appfolio software to our account vs opening up a new account (which we won't have direct access to).

In order to achieve no. 1.

Its very difficult to achieve cash flow, initially, for single family houses.

I will be flying out to the area in the next week and a half and would like to do most of the fact-finding and conversation prior to landing so my time there is optimized.

NOI/Cap rate = value...So if an NOI for a specific property is achieved by higher than normal rents, I thought the property's valuation would be rewarded and be higher. 

My goal is to achieve at least a 25% cash on cash return on flips over a 6-month period or in the worst case convert the purchase into a buy and hold investment to earn at least a 10% annual cash on cash ROI after taxes.For me cash is king and I want to grow my cash as quickly as possible while managing and shifting risk.

I have heard this strategy mentioned a few times in the past where one can achieve a greater amount of delayed financing by including your rehab costs on the HUD / closing disclosures.