This is possibly a good investment plan?

[David Cunningham]

Hey guys, in looking to get my license and am going to school now but have something more advanced on my plate now. Basic recap is that me and my woman are about to move due to our lease ending soon. My girl has little but of money passed down to her after her fathering passing away. She has two houses owned in Indiana for her family and we will probably move back to the nice one in a few years up there. We currently live In Tampa florida and I'm waiting on custody court for my son that I have with another female to go over based on us moving there. So here's my take. We were thinking of buying a house from an auction and doing some work on whatever the house is needed and an am quite a handy man so I can figure out the best route for whatever action is needed. We were looking into buying this so called house living In it, roommating to help pay bills because we dont mind someone else and putting it on the market asap and move onto the next one whenever possible. But to be honest we could possibly purchase the house live there for X months buy a new investment whenever the first one sells start another flip and/or move to Indiana. Please help in some advice this is a limited time option we have until we either have to make this session for an investment house or rent again until we can make an investment.

[Minna Reid]

Not sure exactly what your question is exactly...but if you have an opportunity to purchase a property that makes sense financially as a flip, and you intend to do the work yourself, and you are stuck in town for a while anyway due to personal issues...I see no reason not to move forward with the opportunity. Just make sure the numbers work at the end of the day for a short term flip project.  I guess the only possible issue I see is the "roommate". A roommate is simply a tenant, and having a tenant in a short term flip project just doesn't make sense for a multitude of reasons. Why the roommate? If you can't finance the costs of a short term flip project without a roommate to pick up slack, you are not funded well enough to take on this project and you should reconsider. Do not proceed unless you are comfortably  funded to cover the acquisition, rehab costs, carrying costs, selling costs and the surprise costs (there will be some - especially as a a first timer)  - and on your own, without a tenant.