Yes, I can become a licensed contractor and may do that...but then you have the expense of workman's comp insurance etc.There must be a way the average rehabber is doing this without a license and without a licensed contractor; not everyone whose rehabbing has lots of construction background and the knowledge needed to take the contractor's licensing exam.

My big concern would be that, even though there's that recent sale, what are the average days-on-market (DOM) in that area?

Keep those in mind when screening tenants, interviewing tenants, showing properties, reviewing applications, and doing background checks.Don't feel obligated to process the applications "first come, first serve".

The individuals I hear on the podcasts and meet through the forums share my vision of wealthbuilding through real estate, at the same time as they surprise me with their diverse backgrounds and down-to-earth sentiment.

Hello everyone,I have been reading on this site for about a month now and soaking in the information.Little background to start: Im 22 years old, licensed plumber working full time as well as running my own plumbing cash business on the side.  

I plan to present the deal to my sister who has a background in mortgage financing and property management.

My background is in engineering and have some connections in med tech.  

She even oversaw some repairs, helped us get a renter in there, and did all the back ground checks for a small fee.Since then we have contacted Mark Nolan with My Solo 401k .

My question is would you advise someone like me to pursue a deal/project like this, considering I have zero background in development?

It didn't come up in the background check, because it was not a conviction.