Flipping my first SFH?

[Taylor Stubbs]

What makes the most sense, using a contractor to execute the rehab or go with the more hands on approach? I understand that it depends on how much physical labor I am willing to put in but what I would like to know is what are the benefits from each method. I have found a property which I am in the process of financing. It's a foreclosure 1900sqft 3 bed 2 bath on 1.01acres priced @55k needs kitchen update. Has hard wood floors that need to be refinished. Needs counter tops and a lot of exterior paint and landscaping. I think I have pretty much answered my question but I would like to know what has worked for others. Thank you

[Corby Goade]

If this is your first deal, hire professionals that will let you shadow them and ask questions while you help. In my opinion, its vital to understand how to do this type of work if you are going to be rehabbing more properties. That knowledge will help you negotiate much more effectively in the future. For instance- how difficult is it to plumb in a new bathroom? If you need one in the future, how would you budget for it and negotiate for that work? That's just one, simple example, but it works across the board.