Ítalo MendonçaI would second the advice given by @Don Konipol .Another piece to add, I would possibly do an interest-only loan, if you are still interested, but request collateral from the flipper as well (what he is doing is high-risk, with high-risk comes high reward, but you have to make sure you get rewarded as well for taking on his risk).Collateral would at least give you the peace of mind that you will get paid, as long as he doesn't go bankrupt in the process of losing the home, hopefully not happening BUT if it did, you could at least get something for your money.

If you can’t afford that look into SF homes or even condos that would make good airBnB or long term rentals after you move up.I truly believe RE is the fastest route to financial security, but I’ve also personally known dozens of people who wound up bankrupt investing in RE.  

Detroit has been on the rebound for a few years already and the introduction of this substance will bring in more businesses, attractive for millennial growth, and cause media to take away the "bankrupt city" annotation Detroit has and spin the new name for Detroit of this like "land of opportunity for businesses and millennials."

I Personally I Would never buy a rental whose business model required me to do STR's.1) you never know what the state and/or local government will do to stop Short term rentals in the area, one negative city ordinance and you could be bankrupt.2) I believe that Air BNB or VRBO is a different business model. 

This is obviously a stretch but even if he damages it that severely, gutting an 800-1000 sq ft condo won't bankrupt me. 

In a downturn market you could go bankrupt.

You have probably not been to any LTB hearings either.If you want to survive in Ontario you need to understand that tenants can bankrupt you very easily.

It also ensures that taxes won't go up in the event that a city starts going bankrupt.

That company is bankrupt, and that deed doesnt expire until 2031.

I do know the lawsuits can be in the millions and bankrupt you.