Also if i am able to do that, what if eventually the tenant wants to exercise their option to buy, will they pay me in full and then i pay the person i leased from??

So I would have to put down the earnest money beforehand, in order to even get to the point of exercising the right to show clause?

I got that idea from my friend who is a real Pro who is a  fantastic role model

Figure out what you have into the property for total cost and than run a highest and best use analysis.This should tell you whether to rehab what is there or tear it down and build something new with the same asset class or a totally different asset class ( commercial, etc.).Additionally once you find out the highest and best use then look at the TIME required to develop that use and receive income from it or sell off.Some people will get the fire department to do a "controlled burn" on the property and use it as a fire exercise.

Taxes are definitly high and do play a bug role in flipping.

I don't think people expect big industry to play a big role in the Berkshires' future.

Market cycles also play a role.  

The Cash Flow game is also a fun & educational exercise you could integrate into your life.  

It is unlikely that we are ready to purchase our first property, or that we would be able to negotiate such a discount; however, I am doing exercises to ensure that I am familiarizing myself with the process.One thing about this duplex.

In my current role at my 9-5 job, I can't hold an active license but this will be good info for me to keep in the back of my mind for down the road.