Also, James Dainard just came out with a new flipping book, The House Flipping Framework.

End goal is get into the commercial housing and industrial.

If you are purchasing that MF property for $1 mil then you can use the 3 units as your replacment for the 1031 exchange ($750K of value) and live in the last unit ($250K of value).An awesome way to house hack your way up!!! 

When I arrived I wasn't able to find a home, but I was able to find a house to rent a room from.

There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.

We finally close with title insurance.14. seller is holed up  its a massive hoarder situation as bad as I have ever seen.15. another 6 months to get eviction.so about 30 months later we finally take possession and bull doze house and built three new homes.  250k in out for 30 months  another 30k in legal fees..

I am interested in acquiring a 10-acre lot with a house listed for $1.6M in a Houston suburb and would like to investigate financing options for building a commercial structure on the property.

Yes we are all in house.

It's a little remote, however, the community seems to be new and growing and there are other houses and developments going up near by.

I got my GC license a couple years ago so I could build houses myself as I was sick of dealing with contractors.I've hired plenty of contractors that were not licensed/insured and it went fine.