Planning my first house flip need help!

[MIke Scutellaro]

Plan on doing a house flip with in the next year. I have experience as an electrician and my father was a union carpenter/project manager for 30 years. With our knowledge I'm sure we can fix any house we buy and if we need help we know other tradesman. Now I have around 40k to put down if needed. And my dad has over 300k in the bank which we would use for repairs. I just don't know where to start. Do we go for foreclosures? I've been reading a decent amount and people keep saying location is everything so I figure look for foreclosures in decent neighborhoods? Any advice would be great I have a lot to learn willing to take my time so I don't make any big mistakes!!