I was able to get myself in by finding a specific goal for my first property and pulled the trigger when it came along.

Would my brother-in-law be liable for any taxes or if he didn't report it at all, could it trigger an audit for him?

But my question/problem is....When will I know to pull the trigger and purchase that first flip?

The only problem is that he, like all skilled GC's right now, is extremely busy.

I finally pulled the trigger and put in my first few offers but haven't had any luck yet.

South Florida, especially in Miami is an extremely competitive and dynamic market There are tons of opportunities for flips, you just have to be the first one in, be able to close quick, and sometimes assume the risk of a projected lower margin.

That is a pretty extreme commitment on his part to your business, however.

I never heard from my broker or this agent again That would actually.be price fixing when the other agent called you complaining about lowering commissions and extremely illegal of them. 

as @Chris Reeves said, you need all the other variables....Lot rents, number of occupied lots, (the ability to expand is usually worth zero...... and thats what you you need to value it at) More info on utilities ....Lets stay away from gut feelings for the moment and work off hard numbers.Also, it would be extremely helpful to know where the seller wants to be at price wise. 

I've done more foolish things with $20,000 in my short life, so I'm inclined to just pull the trigger on this one.I'm all ears, people!