Two flats are essentially just houses.... they trade like houses and there is a lot of emotion involved.

But, as my wife and I have done this over the past 5 years, we have found it moves less and less each time, and that we are essentially living the life we envisioned 5 years ago when we started this process. 

Research the Market:It's essential to comprehend the local real estate market before you start flipping residences.

They’ll be essential in helping you navigate challenges and scale efficiently.Since you’re planning for 2025, now’s a great time to start networking, analyzing deals, and learning about financing options (especially if you're a first time flipper..). 

Let's say at 6% over 30Yrs will be about $960 per month(Principle/Interest) with the remaining  interest only portion $40K costing roughly $200 per month. $1500- $960 + $200 IS $340Cash in your pocket after everything roughly $1500-$1160-$340 which is not bad for a 100% financed deal(INFINITE RETURNS)Now, If you ran this analysis on a 1% deal as @Nicholas L. mentioned you will undoubtably end up in the red each month.All the best!!!

Consulting a tax advisor or 1031 Exchange expert is essential to determine if the benefits outweigh the hassle.Taxes Without a 1031: Without the exchange, your parents will owe capital gains taxes.

I pulled $35K from my wife's roth IRA principle and took out a $50K 401K loan for the remaining down payment. 

An emergency fund needs to be liquid, and immediately available to you in addition to being low risk and protecting principle. 

3️⃣ Local Regulations: Before you invest in a short-term rental, it's essential to understand the local rules and licensing requirements.

It is essential to have a great team.