Aside from the occasional flip myself, I work with multiple local investors who purchase fix/flips and multi family units.I've heard a lot of talk lately, on a national level, about our market here in SW Ohio.  

Lasts a very long time, occasionally just needs a refinishing.

Makes a big difference.Most contractor "partnerships" I have seen simply involve him floating the cost of the rehab until sale and occasionally hearing about a deal.

If you are the landlord and you want to let the person out of the lease but have spent the money you now have a conundrum.This occasionally happens in the PM business and we hold the money and pay the owners the correct amount each month.

You can occasionally glance at the market to see if your home is keeping up.

Laura thank you as well for your input I just think I would be a lot better as selling investments that SFH's and would like to add you to get occasional help or ask questions when and if I have any.I was going to start real estate investment this year but decided to grow my capital a little by volunteering to be deployed for the second year in a row. ( the first was iraq).I'll be using my VA loan to buy a 4 unit and plan on refinancing and moving into another four my entire life as often as I can.

Seek the simplicity of the country, the golden ticket of de-facto "debt forgiveness", and the occasional rental opportunity in your local KS market.

My goals are to buy and hold and to do the occasional fix and flip. 

I've spent many years accumulating a ton of equity in my properties, occasionally pulling out cash for the next deal.

Many investors in pricier areas aim for 1%, in some areas you get the occasional 3%.The 50% "rule" is a quicky was of guestimating expenses.