Last recession I was flooded with REO and Shortsales and was making more than what I'm making now(due to some extra form to fill out on each appraisal with extra compensation) However, appraisal is a job, and I left my corporate job many years ago not to have another job.

I am looking to buy and flip houses with only cosmetic repairs needed in order to get extra cash to put towards my long term goal of passive income. 

Even if I could get an extra $3000 per year, that is like a 20% IRR, is my math right on that?

I think it's important to have a business plan. i havent started my investing yet so take my opinion with a grain of salt but the more I think about it the more complicated it seems. really what im trying to do is just buy multi family properties at some kind of discount. add value by renovations or by purchasing in a down market. then fix it up to my companies standards and get them rented out one unit at a time. some of the things ive been thinking about include financing. how will i finance deals after the first 4 or so when the banks stop lending traditionally. also how much do I need in resurves to cover everything from fees to extra holding costs to a major cap expenditure. i want my business to have a plan so i will succeed no matter what. so i think its important to think about those types of concerns regardless of what type of investing you're doing and factor those in to your plan. im excited to save money for the first deal im only at 3k so far.

It will be easier to sell them individually. 

I have a 2 units house with an extra lot that could hold the same 2 units home.

There is no extra hassle involved besides the time difference, as i said before.

However, if you believe FEMA's risk assessment is in error, you can submit evidence to FEMA and have them do an individual evaluation of your property. 

Will check again on Monday, just to be extra cautious.. 

Some want to be in charge of selecting individual team members and have more control over rehab decisions, prop selection, etc. but want to invest in a market where their capital goes further, so out of state BRRRR is a better choice.