; and 2) time constraints, because I have two renovations underway already AND I'm the executor on this complicated estate.But I welcome any assistance with figuring out how to flip in that IRA in the years ahead.

I just got my Real Estate license and currently have one flip under way (6 previous flips)and purchased two rentals with proceeds from a previous flip.

.#6 & #7 are underway with #6 being ready to list soon.We are hunting for the next one as I type..I do not want to discount all of the advice that everyone else has given because there is a lot of wisdom in those posts.Before we started, we viewed the finished product of a previous flip.We started with one and when that went well, we started searching for the next property.

Feel free to send me a message, we have a rehab that is nearly done and 1 that is currently under way plus 1 more to start that should close by next month so you can come out and get some "hands on" experience and advice from me and a few other local guys if you want.

Contractors for the most part all look and sound the same when you get their quote but you won't know how they're going to treat YOU until the job is under way.

I will admit that as i get closer to finally starting (the sale of the house is already underway, as is the 1031 attorneys, and identifying replacement properties) i do find myself beginning to worry or second guessing.

Furthermore, by the time these people entered the market, the housing bubble had already been underway and likely ready to pop as is.

Not only do they not require any EMD, they have told me that i can back out even after the purchase agreement is signed and rehab is underway.  

At 40 you should have a 401K underway and have additional savings for emergencies.With a house hold income of 50K this should be possible by analysing your expenses and cutting out luxuries.

Initial cash flow probably tight, but has upside potential with local community college huge expansion underway.