But things like flooring, drywall would be a pain.

It's not bulletproof and yet the LLCs I have for other businesses are a bit of a pain with annual meeting minutes and paperwork you have to track and file every year. 

In my area I have to provide notice about lead pain, bed bugs, mold, rent control, sex offenders...Your state (maybe city) probably has some sort of apartment owners association.

I had to go through the painful process of trying to figure out how to get new titles.

most borrowers that i see looking to do what you are doing, are just getting in and out with hard money/bridge loan. rate and points will be higher but the rehab will be 100% covered. it will be less painful as far as underwriting etc goes. we will not ask for tax returns, etc. you may run into all sorts of questions from a conventional lender especially with that purchase price. let me know if i can quote this deal for you. thanks!

Although the injuries from the current housing 'correction' and 'bubble' in other areas are not as severe as those inflicted in 2008 there will be pain and some suffering. https://fortune.com/2022/10/21...At most risk are more recent home owners, specifically first time homebuyer's that took advantage of lower lending rates, but at increased asset valuations, many with limited down payments and even more limited disposable income and reserve liquid assets.

I've live on no other income and I am still in horrible pain almost all the time.

The barrier to entry is painfully low, and it's seen as "easy money" by many.It's sad how many people are not properly represented by these so called "professionals".

It was painfully clear I'm searching for ____ in ____ neighborhoods between this $$$ amount.

Just stay consistent, find peoples pain points and see if you can help them.