I'm looking at flipping the home, from what I've been told through an agent and lender is that they're pretty much impossible to flip based on the rules in place.I'd love to pick this place up, it would be my first property.

I really don`t remember how I found out about biggerpockets but I think it was browsing internet and real estate topics.The more I think about my goal in real estate, more I am not so sure what is it :)But let`s say that in some future I would like invest in buy and hold rental properties.I know that owning and taking care of any kind of real estate across the ocean is much much more difficult than living in USA, but I think it can be done.This maybe sounds like mission impossible but from real estate business I am generally not asking much.

Also, how much does this sort of situation hinder sales prices (impossible to quantify, I'm sure)?

That's not impossible or a crazy idea, but there is some homework in order for you to set yourself up for success.Get the book, The Millionaire Real Estate Investor by Gary Keller and read the whole thing.

You are messing with things that matter that you do not fully understand and those are going to make this pretty impossible to do what you want.

I have flipped many homes of all different varieties and values, and I can say for a fact that sticking to your guns/rules, having a contract, and including completion time factors with bonus for early/penalties for late and draws is vital.Here is another lesson I have learned I will share here: it is literally impossible to remember to include every fine line detail of every repair item you go over verbally and then place in ink into contract.

David, You didn't offend me, that would be virtually impossible as I don't believe in political correctness nor do I get morally indignant if someone disagrees with me.

Get a RMLO to originate a lease-option, not impossible, but good luck but absolutely follow the advice of a good RMLO, also might be hard to find.Do some searching here "Rent Credits Appraisal" tons of posts on the issues. :)

As you mentioned, the market is nearly impossible to cashflow here.

Even HML is very hard to come by in Baltimore City and, due to my own experience trying to find it, I would say almost impossible for a buy-and-hold.