I would recommend running scenarios with a lender, and if your bottom line is not enough to help you get started flipping, then it's best to hold off. 

An industrial condo for $450k built out as a brew pub (know anyone that wants to run one?).

That’s what I’m talking about.. having people on the ground who know their turf and can spot trouble before it smacks you in the face.From what I’ve heard, outfits like Northwest Preferred Property Management or Umbrella Properties in Eugene aren’t just running the numbers.. they’ve seen the weird mid-season repairs and the tenant personalities you’ll never read about in a textbook.

I think the first problem you’ll run into is using an FHA LOAN through a partnership entity.

I am focused on growing and running my rental business while my agent is focused on buying and selling commercial real estate.

My first two liens were over the counter (leftovers in Baltimore language) both turned out to be home runs.

Also, running a flip with no money and hoping you get a good return with all the other stuff going on in the background starts to add stress, and you end up not enjoying it.

It's true that you make more money in the long run with appreciation compared to cash flow.

My name is Rebecca and my husband, Nick Knox III and I have run Captain Save a Home LLC, Brew City REI Club, Brew City REI Training Cafe and Wisconsin Contractor and Handyman Club based out of Milwaukee, WI for over a decade.

Accelerated depreciation, taxable income forecasts, and running various numbers/scenarios.Point is that tax planning/financial planning is not the area to skimp.