Few suggestions:Make sure you have a scope of what you want to be done in the house before you bring GCs on siteTry to have a longer inspection period (14 days, or more) you will need it to have time get GCs and your scope.These days on a new listing 14 days inspection period is VERY long - maybe try to tackle houses sitting on the market longer.Hire a project manager and/or a designer to work with you - unless you carry that ability or doing a lower-end home. 

We wanted to try our hand at a really big project and this was a great opportunity to prove to ourselves that we could tackle almost anything!

With my previous construction and heavy equipment experience, and the experience I'm currently gaining as an architect, I think I'd be well setup to tackle a flip or 2.

Deferred maintenance issues will come up when you first get properties occupied, but they will subside as issues are tackled.

I think friends grouping up and tackling new tasks/projects in a mutually beneficial way is incredible and should be strived for.

If there are any BP books that tackle this, I'd be willing to go that direction for info.I am an agent, so I have access to the MLS and lots of other tools that may assist me.Any help would be greatly appreciated.

You could get a partner and see if you both can tackle your first investment together. 

😂 Everyone's comments were very, very helpful and I am going to tackle this project on my own for a 1/3 of the price!

My real estate goals include; developing a portfolio of small-mid sized multi family units to the point that I am able to pay for school, phase out my job, and begin tackling real estate by scaling full time.

I would go to class about 4 hours a day, work the other 8 at the insurance company, and then head home to tackle life and homework.