Initial things to consider before getting into flipping

[Sam Hubert]

Hi guys,

I am new to the forum. I am interested in getting into real estate development (I am currently an attorney, but find real estate development very interesting and potentially something I can move on to once/if I ever want to leave practicing law. Not an real estate attorney by the way). I have some money that I have saved and want to start flipping houses, with the hopes of eventually moving on to larger development projects. I plan to do this with a couple of my friends who have several years of experience doing this, but I myself have absolutely no experience in this field. 

Because I am completely new to this, I was wondering whether anybody had any initial things that I really need to consider, high level advice, and/or some things that people with more experience know but may not be obvious to a complete novice in this business.

Thanks!