Unless you are a seasoned real estate investor with professional title searching skills, I wouldn't do this.

This is not about becoming a college or pro player.Work on (fun) physical and mental toughness with me at the house (wrestle, tackle football, physical basketball). 

Whether you're a seasoned investor or just getting started, I look forward to learning from and collaborating with you all.Let’s connect and grow together!

A couple options… 1) Coast as is until March for better selling season, more buyers, higher price. 2) Raise the rent at least half way to market.

If you are paying no rent in your parents beach house that could bring in a lot more to your family being rented as a beach house during the season. 

And then do it again.It is actually possible to have a super experienced General Contractor, a very deep pockets money partner, and still lose money on a flip.The most common reason, in my experience, is having a project run over schedule and placing the property on the market during the off-season.

That compounded over time, along with you becoming a seasoned investor can lead to 8-10% cash on cash returns over time. 

You could also JV with a seasoned professional.

Quote from @James Kiny: We are a welcoming group of investors -seasoned and prospective - looking to share ideas, talk over problems and celebrate successes of our group members.

Proper bookkeeping now will save you so many headaches during tax season and as you expand your portfolio.Best of luck as you grow your real estate business!