New to Flipping so asking questions

[Daniel Gard]

We have one more Seminar to go to coming up 17-19th before we start flipping/wholesaling. We now have a  business which is INC and an 800 # but we haven't insured our business yet. I would assume this is a must but then again, all homes we buy will have Insurance and the contractors will all have their own insurance.

I've talked with a few real estate agents which we are meeting with Saturday (tomorrow) but have yet to contact any contractors for any future relationships. So just waiting on this seminar is driving me nuts so I'm digging. I'm really not sure exactly how to go about doing any of this. I've never owned a home.

Question #1. Is there a rule for converting a 5 bedroom to a 4 bedroom with a master suite? (knocking out a wall and combining 2 bedrooms). Or converting a 4 bed to a 3? I mean, if the majority of all were interested in a 3 bed. It would make since to convert a 4 bed to a 3 right?

Question #2. Based on experience regarding kitchen cabinets, which do people fall in love with. Lighter medium or the darker high-end looking. How about hardware? Counter top type and color, wall paint, outdoor house paint. There are so many things and I get this may be a broad spectrum but id like to know "what works" and "what to stay away from".

Question #3. How about flipping homes with pools? What to look for or a bad idea all around?

Thanks