People who are buying there are either doing major re-positioning - i.e total renovation of building or space and/or betting on huge appreciation.

I have never heard of that but if it is fairly common in your neck of the woods Im sure that definitely made you more comfortable.My concern would be that something could possibly happen to the home during renovation (fire, tornado, etc.) that would destroy the property and you would not be the named insured on the policy.

Granted, that figure is not to make it look beautifully renovated, but still.

What keeps bringing me back to homes and apts is I love to renovate living space its my 1st love.

The larger the down pmt the less likely this will happen.

Again, you are just a consultant who helps the client manage the entire process.For this, you may get paid a percentage of the renovation costs (and perhaps a bonus for coming in under the client's anticipated budget), you may get paid a flat fee or you may get paid hourly.

But, this is still driving distance if need be, and the deals I look at are larger multi-family with larger CF to warrant the inconvenience.

Keep the best rentals, invest the money from the flips into more rentals, 1031 into larger and larger properties.You can also earn more from your rentals if you self manage.

That allowed me to buy, fix, sell, and use the equity to do the same but with a larger property.So I hate to answer your question with an answer that doesn't really apply -- but if you can get some money in the game (shake the couch cushions, or as friends/family) you have many more options.The other thing is to work hard and birddog properties for local buyers.

I then met my wife, who owned her own house, and we bought a larger house together.