New investor seeking advice/answers.

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Hello everyone. I'm Phil and new to this real estate investment lifestyle. To start with, any and all help given, in all forms, is greatly appreciated. Thank you in advance. My wife and I own one SF house in Dickinson, Tx. that is currently rented.

At this stage we're interested in flipping only as dealing with renters is not something we want to continue doing. Is buying a lot and building on it considered flipping? I know of a house that is going to be demolished by a municipality which is next to a vacant lot that had the same thing done to it. Any advice on the profitability and pitfalls in this type of real estate investing is appreciated.