New to real estate, looking to flip in Baltimore, Patterson park area

[Stephanie Lella]

Dear Bigger Pockets community,

Hello! My name is Stephanie Lella and I am new to real estate and looking for advice and networking partners. My partner and I are interested in flipping a house in the Canton area of Baltimore this spring. We have been in the area for the past couple of years and have seen areas west, east and north of Patterson park gentrify quickly. What are peoples' opinions about houses north of Patterson park? Do you foresee this area being developed the way Canton and Brewer's Hill has?

I know there is the "2 block issue" to be wary of, but many of these abandoned houses are only a few blocks north of recently flipped homes selling in the mid to upper 100k range.

An example would be, 2428 E Fayette street. In foreclosure for $40k, put in at least $60k of rehab work and hopefully sell for some profit. It is a foreclosure, so I know there may be a lot of loops to jump through and the final price may be more. 

We are both currently serving overseas, I am a diplomat and my partner is in the army, so we would not be able to get started until the spring. I have been trying to educate and research as much as possible so when we both return, we can be ready to go. So far BP has been tremendously helpful!