When you sell a rental property at some point in the future (at least a year out), this is not viewed as a flip transaction, but rather just a reallocation of the IRA from holding passive real estate to holding cash.Your example of buy, fix, rent for 3 months, then sell would likely be viewed as a flip, especially if you repeated this pattern with multiple properties.The IRS does not define a "flip" in clear terms, but has a full set of measures they would apply to real estate transactions to determine whether something is a passive investment or a trade or business activity similar to competing commercial enterprises.  

Thanks for being a sounding board.It's a two car garage, and I don't have measurements, but it should ballpark ~25'X30', maybe?

I would get all the relevant information, measure the risks and if it makes sense go for it.

And what precautionary measures should I take before actually purchasing , keep in mind this is my first ever real estate purchase , so I need a walk through of everything .

I was wondering when pulling comps, could I use both a brick home and a wood home as comps? I mean they both have the same or similar amount of bedrooms, bathrooms, age, sq ft, under a mile radius, etc. The only major...

If your biggest thing is safety, I'd talk with the neighbors, and tell them you'd like to build additional safety measures and improvements on the portion that's your land.      

So if you did move from the property later on the taxes would kick in and drastically reduce your cash flow and other financial measures.

And you can’t really measure value by suburb in this part of town since it’s so “street-by-street.”

So there for all of a sudden you have the measuring stick go way up.. 

Sometimes sending a similar message to multiple people is not the same as spamming and it's simply a measure in saving time and energy.