First flip- what to know

[Kyle M.]

I may have identified a potential flip. I have never done a flip before- I have been actively looking for cash flowing multi family properties but this property looks like a good candidate for a flip.

What should I know about owner occupied flipping? I am thinking about a 203k loan. Does anybody have any experience in owner occupied/live in flipping? I believe there are other Fannie/Freddie low down payment renovation loans I also have access to.

My main concern is not being able to actually flip the property. I will definitely ensure whatever price I purchase the property at I still have room to cash flow on renting it out. I can afford living there as my primary residence but I would like not to have to and just flip it. I’m not an expert on rehabs but it doesn’t look like it needs much work. Maybe 10k....

Any insight would be appreciated.