First Time (Potential Buyer) Seeking Advice on House Flipping in Charlotte, NC

[Michael Challenger]

I recently came across a property through an agent with attractive numbers for a house flip. We have had brief discussion regarding general Q&A information, and proceeded to provide an ARV price range that would be very attractive to me.

Because of this, I am much more inclined to proceed and heavily consider this purchase. For me, I am a little hesitant because I would be in a situation where I would be trying to secure traditional lending (which should be very feasible given credit scores & what $$ amount I am pre-approved up to from my banks), meaning that I assume I would be forced into using my first-time homebuyer loan incentives. I'm not too hung up on this, because the margins still appear very attractive (from what the agent speculated ARV). my hesitancy stems from a lack of experience and direct steps/plan of action to take on a property I like.

I am now at a big of a standstill, and I am here seeking advice on next steps. I have yet to complete a walk-through of the property and see what renovations may be needed (potential for HVAC and interior, but from my understanding the roof and windows were replaced within the last 7-8 years). I am not terribly concerned with networking to find reliable contractors for renovation work. My agent also mentioned resources that could be of assistance for that. What should my next move be if I am looking to push forward with this deal? What further analysis should I be honing in on and key factors/metrics/info that may be providing inaccurate numbers?

I am looking for advice from seasoned house flippers, both in my local market and otherwise with a track record of success; or even with sound wisdom that can be applied to this potential deal. I am also curious about when/how an attorney/legal involvement comes into play with this. Lastly, I am extremely open to working with investors, or obtaining private funds as well.