Good points I try to target a price range basically a starter  home  that is affordable in  A,B area . 

It's very hard to say if a 50/50 cash flow split is good without seeing the numbers for the project.

Here are a few tips to help you get started:Financing: Since you’ll be starting your internship soon, lenders may look at your projected income or require a co-signer until you have a longer work history.

The city wants to tear the property and surrounding properties down Zillow said it’s worth 38000The city offer me 13000.I could use some adviceHard to give advice with limited information, but as a general rule, the longer you wait and the further down the line their project is the more valuable your property will be to them.Zillow (and all automatic online) estimates are very unreliable, so don't base on that.

I mean one family on one home i bought basically stripped down to the studs .. everything was gone by the time I got them out. 

The fee for this service is basically passed down to the guest one way or another.

I have flipped 30 houses, including having 10 projects going simultaneously, one of which sold for $1.8 million.

However, as we delved deeper into the project, we realized that a complete remodel would be more beneficial.

Basically, you're gambling on the second appraisal and at most you will lose the $1000.  

While I understand the basic structure of General Partners (GP) and Limited Partners (LP), I was under the impression that GPs always had to put 'skin in the game.'