We devised a plan which entailed him purchasing a second home in state of Delaware where I live which my family and I (wife at the time and 3 children) would also live in to assist with the medical care that was desperately needed as my father lived alone in Philadelphia's Eastwick section.Fast forwarding. 3 mos after closing on a beautiful property in Kent County Delaware.

By forming a well-rounded view of what home flipping entails before you get your feet wet, you may be able to avoid the usual pitfalls.

C- you need to consider a host of other factors: tax implications, liability, qualifying for loans, property appreciation, etc. after you consider those, if RE still seems like an option, I'd look at possibly acquiring a quality assert in your local market of Denver.

That said, we can generalize some about the best option based on a management proposition (which can relate to profits, longevity as a landlord, etc).So in general the type of renter and rental in the 20K property range is going to entail some particular challenges.

Taz, I did not have the patience to cut and paste all the assertions you made.

I noticed, on several occasions the following posted under profile names:Under Investigation by BiggerPocketsPlease explain what this means, entails and what act must a member/company perform to have this action taken against them.

@Shawn Lewis W Fayette not Fayetteville. mitigate lead paint = eliminate it = no more lead paint. usually entails ripping/encapsulating window/door/base trim/windows/doors....maybe banisters/railing nonsense.

A 1031 is possible, assuming you held the property for investment, but the IRS would assert you didn't hold it with the intention of investment, if it was a flip.I would be happy to answer any other questions you have, if you drop me a note.  

Usually this would entail having an egress window, enough ventilation, etc.. 

That entails certain fiduciary responsibilities on your agent.