@Muhammad Kashif Flipping a property in 6–9 months results in short-term capital gains, taxed as ordinary income (up to 37% federally, plus NJ state taxes up to 10.75%).

So the property owner can never sell?

Doing so will help you avoid capital gains tax if you decide to sell later.Second: Test it out by renting the property for a year.

If you have to lose a few hundred a month on a long term tenant, it might be better than selling it.

There are plenty of websites that can give you a good idea of property values in your area.

From visiting properties?

Assuming you go the HELOC route, another option to reduce your costs assuming you have decent credit is to look at credit card balance transfer promotions.Back in 2003-2004 I had HELOCs on my investment properties and interest rates were increasing.

Quote from @Daniel Tanasa: Hello Terry, If you're looking to find houses that are in pre-foreclousure you can use a website like www.foreclosure.com and you can get the list of properties and start marketing to them. 

The approach involves using a hard money lender (HML) to fund 75% of the purchase price while having the seller carry back 25% in a second-position loan, allowing you to flip the property with little money down.

- Will they preview properties for you, taking narrated videos they send to you?