Its like a car, after 200,000 miles its just toast.The more "miles" your house has the more ongoing repairs and the faster you have to build up for the major rehab.Once you understand this, you will look at deals differently.

Here's my overall plan:I graduate in 2019 and immediately start working and building creditI live with my parents (they've agreed to let me) until I have a decent income from real estate.I have to go to college but I'm going community and my father has agreed to pay for my student fees so there's no concern thereHere's where it starts getting good...My longtime friend (since kindergarten) is VERY entrepreneurial and is also the son of a contractor and is planning on going into contract work.

Plus ongoing data access to the MLS each month (about $30).

Even then, there's an ongoing debate about the benefits (or lack thereof) of Series LLCs.Once your flipping becomes substantially profitable - as in $50k net after all expenses - then an LLC with an election to be taxed as an S-corp should be considered for tax reasons.

Do some homework on going rates for commercial rents vs residential rents in the area. 

I was planning on going through my bank but a real estate agent told me it was easier and better to go a different route and gave me a referral to a lender she uses all the time.

Just make sure to educate yourself now and ongoing... and change your family tree.Impossible is nothing!

From an ongoing management perspective, you want to know how to avoid prohibited transactions, calculate annual contributions, and process annual filings (if applicable) - among others.

@Dan Handford Contactually looks like a nice tool to see how your on going engagement is trending.

Make sure you run your numbers right including ongoing repairs, insurance etc.