Something to keep in mind is that you should try to have at least 6 months of reserves saved additional to the down payment when buying a property.

As I’m now looking to start purchasing and flipping properties on my own, I’m seeking any advice or guidance on getting started, particularly when it comes to finding good deals in the Central New Jersey area.In addition to learning more about the investment side, I’m also open to networking and offering my expertise from a contracting perspective to help others in the community.I appreciate any insights and look forward to connecting!

I do not have the 25% for down payment.I will offer 20k for 5 years of interest, refinance at year 5 to return the down and an additional 50k bonus.Thanks in advance.

Also be aware of Unrelated Business Income Tax (or UBIT) on leveraged real estate inside of an IRA.Or better yet, since you are self-employed - go with a truly self-directed Solo 401k plan, which would be a much better option and will help you avoid the UBIT on this investment. 

If you are self employed you can also look at bank statement loans assuming you have a business with high deposits.

@Anthony Simboli I use Quickbooks online (on my Mac) and would recommend it all day long.In addition to financial management, you should be using a lead management software.

He invested in high appreciation areas in New York and San Francisco and the additional properties which he got ten years ago so far more than doubled in value, where capital gains are not taxed, I agree that in his situation "cash in not king".I always thought acquiring properties, over time being mortgage free, cash flowing is the end game.

Our total gut ran about $65k inculding all new drywall as the walls had an adobe style finish, plus we added two additional 1/2 baths.

He put it the market and the real estate agent advised him to add a closet to what had actually been a bonus addition to the two bedroom one bath house. 12 years old at the time my father asked me to give it a try.

is there a particular formula that takes all manner of factors, (employment growth, corporation development news, barrier to entry, rental rates, wage growth, etc) into account and spits out an "invest in city X" answer?