At this stage, I’m working on defining the right strategy and would really appreciate insights from those with experience: What type of properties are best to start with for a first flipWhich areas or ZIP codes in Jacksonville and surrounding areas are most suitable for beginnersWhat a realistic purchase price ceiling would be to avoid losses on a first dealFrom a financial standpoint, whether it’s better to use hard money financing or partner with an investor and split profits in order to gain experience and build a track record  I’d love to hear any advice, ideas, or lessons learned from your own experience.Of course, if anyone here is interested in partnering as a capital investor, or has potential opportunities, I’d be happy to connect privately. 

Any specific ones you’d recommend (or avoid)?

Any specific zip codes or streets you would recommend to avoid as an out-of-state investor?

Avoiding violence at all costs should always be the ultimate goal.

I wanted to share a recent deal structure that may be helpful for anyone sitting on equity in a high-cost market.A client recently:Did a cash-out refinance on a California primary residenceUsed the proceeds to purchase a single-family rental in MichiganIs closing in early FebruaryWhat made this work smoothly:No relocation requiredProperty manager is picking up keys immediately after closingClient transitions straight into passive monthly incomeNo short-term rental or active management involvedThis wasn’t about chasing appreciation—it was about:Redeploying trapped equityImproving cash flowKeeping the setup simple and scalableI’m seeing more CA homeowners explore Midwest rentals when local numbers no longer make sense, especially when paired with professional management from day one.Happy to answer questions around:Structuring equity deploymentOut-of-state investing considerationsWhat to look for (and avoid) in Midwest rentalsHope this helps someone thinking through similar options.

I usually try to avoid DC since it’s pretty complicated and very block-by-block.

Be cautious, the first-time homebuyer IRA exception only avoids the 10% penalty (not income tax) and must clearly apply to your primary residence.If you are buying multiple properties in one package, it can be difficult to properly allocate the IRA funds, and poor structuring could trigger the full early withdrawal penalty.Before proceeding, consider alternative financing or separating the transactions to avoid unnecessary tax consequences.

I have solid capital set aside and am actively analyzing deals to make a smart first move.I joined BiggerPockets to learn from those who’ve already done it, avoid rookie mistakes, and connect with other investors in the Philly market.

You do not need to invest in areas with high theft or safety concerns to do well, but you do need local guidance to avoid the wrong pockets.

Everything lives in one digital folder per property.Each property has:• Tenant communication log• Lease + addendums• Notices• Inspection photos• Repair receipts• Timeline notesIf you ever sell, refi, or have to defend yourself legally, you just hand over the folder.A simple system beats a complicated one you won’t stick to.If you can centralize communication, timestamp every issue, and store everything in one place, you’ll avoid 95 percent of headaches.