Flippers and Brrr-ers of DFW: Which types of projects do you like? 1-cosmetic (paint, new floors, maybe a few small framing changes), 2-some real remodeling/maybe a major system or two (new baths, foundation + hvac, etc), 3-total guts/burnouts (taken to the sticks).
I like properties needing an update but livable as-is so I can sell them on seller finance to a homeowner that will fix it themselves.
I think there are a few more shades of grey than 3. But to answer your question I'll do any of them but prefer them closer to 1. The faster I can be in and out and the less capital I have on the line the bigger. Even if the profit margin is smaller I'd rather hit many singles than hit a single home run.