We have been looking for additional revenue streams and we are embarking on real estate investment  To flip and hold.We have so much to learn.  

@Timothy CasallasFirst, thanks for your service.Welcome to the vibrant BP community, where you will find like minded individuals committed to REI and also helping others succeed.Your time on this social media site will be well spent.You have taken the 1st step by announcing your readiness and commitment to embark on a REI career.You mentioned an interest in buy and hold, as well as flips, so I added guides on both niches while you wait for feedback on your investment areas selected.http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property)http://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/ (step by step guide to flips)The bottom line is that you must take action to start.

Should I wait to embark in a project only when I can be around or has anyone had contractors do the work while you were somewhere else?

SInce your interests are flipping and wholesaling, I added some links below on those specific topics.http://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/ (step by step guide to flips)https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling)https://www.biggerpockets.com/renewsblog/2013/10/31/wholesaling-podcast-mike-nelson/ (BP Podcast 042 - wholesaling)Your time on this social media site will be well spent.You have taken the 1st step by announcing your readiness and commitment to embark on a REI career.Whether you pursue, wholesale, rehab & fIip or buy and hold it's up to you to decide.The bottom line is that you must take action to start.

I added a link that will offer some tips.https://www.biggerpockets.com/renewsblog/2015/07/29/invest-real-estate-bad-credit/ (REI with bad credit)Your time on this social media site will be well spent.You have taken the 1st step by announcing your readiness and commitment to embark on a REI career.Whether you pursue, wholesale, rehab & fIip or buy and hold it's up to you to decide.The bottom line is that you must take action to start.

Looks like the resources and community will be a tremendous boost to my learning and connections as my wife and I embark on this new adventure. 

Address: 17000 Locust Ave, Hazel Crest IllinoisTotal Purchase: $55,895 (Total amount on HUD-1)Total Rehab: $40,475 (inc'l village permits)Mortgage Balance: $39,267LoC Balance: $51,252Current Out-of-Pocket: ~$7,290Total Owed to Lender: $90,519Total Out-of-Pocket: ~$7,290To be completely honest I wasn't entirely sure what direction to take when first embarking on this project...

Hi BP, I'm about ready to embark on my RE investing journey but still very confused about a lot of things especially financing.

Since I'm considering embarking on some out of state investing, what is the best way to determine the non-homestead tax rate?

There are a number of ways to skin this cat.Lastly, If you are going to embark on the process of trying to generate income for your retirement doing flips, you may want to consult a licensed attorney, CPA or financial advisor who can walk you through this.