Should I wait until I have another property in the cross hairs or move to be ready beforehand?

I framed an office (BR), family room, 2 closets, a 3/4 bath and an area we call a dry bar.

It was leaking from the water heater connection and destroyed a lot of the dry wall with water damage.

It can be a good investment but the return will have to come from principal reduction and appreciation, not cash flow.If you can continue to find and flip with this type of profit, I'd recommend making hay while the sun shines and continue to do it (at least until this opportunity dries up).  

Essentially keep your powder dry because you're going to need it.  

Looking to diversify since cash flow is drying up here.

His current 9 to 5 is doing yacht maintenance but is skilled in many other home repair fields such as demo work, dry wall, painting, carpentry and finishing work.

-Check the dish drying rack/dishwasher.

Check the filter on the furnace , could be full of dog hair .  

Once you are in the training program, and FOLLOWING IT, then I would be having lunch (or coffee) with the following folks: Mortgage brokers / bankers/ HML, appraisers, closing attorneys and any agent with a BROKERS LICENSE in your agency with 10+ years of experience and grey hair (NOT your manager/DB).