Flipping in N.Y.C. ( Not Sure ? )

[Thomas Cardona]

I am a newbie and I was so gunho up to a week ago . My wife and I were deep into due diligence until we spoke first to her Uncle which we hold in high regard. He said he's known a couple investors who have lost there shirts at flipping . My wife's Aunt is a realtor , Investor she also advised against it.  Our Lawyer whom has closed for us on our two properties threw up a lot of flags . They also did not recommend Hard Money 

     We really do not have all the $ to proceed with a Flip . I am thinking of trieing to get  a loan from a bank to Buy and Hold but not sure if the banks will approve . Looking for advise and maybe guidance from my fellow B.P. members .