The rent increase is enough to cover my fee.It may seem like nothing is done, but your PM should be inspecting the rental, reviewing the tenant's record, and verifying everything is good before locking the tenant in for a year.

Ok, now that you have taken your initial step, below are some quick links to get engaged.Since you and your partner are focused on flips, I added the below links for review prior to taking action on your chosen niche.http://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/ (step by step guide to flips)https://www.biggerpockets.com/renewsblog/2013/03/21/flipping-houses-101-j-scott/ (Flipping houses 101 with J.

Your time here will be well spent.Since you didn't mention a specific area of REI interest in your profile either, I have added the links below for your review and selection of one or all of the three most popular niches.https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling)http://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/ (step by step guide to flips)http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property)Now that you have made the move, below are some links that will help with the navigation of the site. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meethttps://www.biggerpockets.com/alertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/termshttps://www.biggerpockets.com/inviteshttps://www.biggerpockets.com/perkshttps://www.biggerpockets.com/forums/categorieshttps://www.biggerpockets.com/courses/a-beginners-introduction-to-real-estate-investing (video courses)https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)Before your 1st purchase, please ensure you visit the below link for some tips.https://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REIs)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

They've got really fast servers and they're regularly upgrading (for no additional charge).  

He gets a call today from his lender telling him he had been reviewing the loan and found that he was realistically under water a total of about $40,000 value wise from what the actual loan was.

I have noticed that reviewing everyone bio really gives you the information you need to network and too see if they can help you with anything you may need or have questions with! 

Ok, now that you have taken your initial step, below are some quick links to get engaged.Since you are focused on flips I added the below links for your review prior to getting started.I also added podcast 009 for you to listen to regarding hard money lending.

For $150 they will come out there and review what needs to be fixed and give you a price. 

When I'm paying $30 for something on Amazon I spend at least a few minutes reading reviews - so people should definitely spend some time doing research when spending tens/hundreds of thousands of dollars. 

I can't wait to make 2016 my year of success with many more to come.Some of the things I've accomplished so far since December 18th:-Attended my first REIA meeting-Set up my website -Set up my business email-Set up my business phone through google voice-Set up my business ups box address -Met with a local Attorney to get a quote on reviewing my P&S agreements and Assignment of Contract.