For holding vs. flipping, let your goals and market conditions guide you—flipping can build quick capital, but holding offers long-term gains.

Plenty of resources here to get familiar with to gain insight on your REI journey. 

We did live in the house for 2 of the last 5 years, so we wouldn't have to pay capital gains tax.

@Mindy RosscupThe knowledge you gain by studying and taking the test to become a RE agent.

Networking with local investors or joining a real estate meetup group can also help you gain insights and connections.

A lot of people think that they will gain "experience" when they self manage.

On Page 134, he lists the following when analyzing a deal:Sales Price: $132,490.00Sales Expenses: $17,000.00Loan Balance: $55,004.72Total Invested Capital: $35,950.00Profit: $24,535.28I agree with his thought process here when he calculates net profit, but I'm trying to verify the net profit by adding up all the sources of income over the past five years in his example by doing the following:Appreciation over five years=$12,490 (see chart on Page 133).Cash flow ($297.73x12x5)=$17,863.80 over five years.Loan paydown: ($60,000-55,004.72)=$4,995.28 over five years.Sales Expenses are still $17,000.Doing the math, profit= $12,490+$17,863.80+$4,995.28-$17,000=$18,349.08There is a $6,186.20 difference from the net profit he calculates.My question is: Is this $6,186.20 difference due to the forced appreciation gained in the property from the rehab he does in this example?

Also, logically speaking, for whoever the owner/developer of the project is, they have much more risk involved and should deservedly be the ones with the profit to gain. 

There are three items required to make a successful partnership - Time, Experience, Capital.If you are a syndicator, you are likely expected to have time and experience.There is a lot that goes into being a competent syndicator - Proper communications, finding a good deal, communicating quarterly updates, networking with lenders, contractors, PM companies.You can gain experience by doing your own deals or working for someone who does(Ideally both).I personally think you should cement your experience before worrying about OPM.Best of luck

The MLS price is always higher than the auction price because the auction price is first bid and there is a reserve in place.Online auctions are notorious for ghost bidding to get the price up which is why you see them come back online again and again.What do you think you are gaining by "using" Auction.com?