I wish you would just trust me on this, but I'll share a couple of errors I made.1) Operation shut down.  

How Often Do You Update Your Operations Manual?

I plan to use my background in accounting, finance, and operations to begin my journey and I look forward to leveraging BP to assist in achieving my goals.  

If you are doing it with a friend its a multi-member LLC  not a single member LLC (unless you just want to do a JV agreement) so your operating agreement should spell everything out.With that being said there are definitely advantages to having an LLC such as financing and sometimes tax related advantages but  if you are not raising money its may not vital to have an LLC though your own situation may vary.

These are important questions to ask because they help you identify your strong markets and best places to operate the kind of business you’ve decided to build.

I have come up with some estimated numbers that look like this, after it is renovated:$700 mo X 8 units X 12 months =       $5600 mo/$67,200 gross projected income$67,200.00 - the operational expenses of 35%   = $43,680 NOINOI/10.5% CAP = $416,000.00 $416,000 - $180,000 rehab *(being conservative and assuming all work so far, aside from new material not yet installed, is a loss due to unlicensed work). = $226,000.00 asking priceDoes that seem right?

There are a number of very good locations and there are lenders and turn-key operators that can assist first time investors to get into the market.All the bestNate

I am heavily invested in my stock portfolio and have slowly come to realize that I have a lot of money in a system I don't fully trust or believe in its operating systems.

I realize how difficult this would be, but developing house flipping into a seamless process would be extremely advantageous. 

I am seeking to do business with an experienced, ethical operator with a solid track record.I will be in LV next Thursday & Friday to meet with candidates.