:) Quick Facts: - Bachelors in Nursing: UCLA- Masters in progress in Family Medicine Nursing: UCI 2017- Recently Engaged! 

Then moving into fix and flip and eventually, holding properties for passive income...Over teh last few months, I have engaged myself in extensive (REI..) training.

One or two bad months could possibly put you in a bad position and start effecting your schooling.

I like  Johanns  idea of the tightly placed granite (or cost effective tile for you). 

Effect of seller's default on loan secured by mortgage or lien on property If, at any time prior to the expiration of the time period in which the option purchaser has a right to exercise the option...

( these will effect your holding cost). 

The meeting begins at 7:00pm Dues are $2 per person.In addition, we will be having an organizational meeting to fill the group's executive positions so it can function more effectively than depending on just one person, namely me (with some much appreciated help from Lori Isom).

A drive through the city will show you just how much of an effect it's had on the area.

Before I get started, am looking for advice on any pitfalls to consider before I engage in a zoning discussion with Regional Building. 

I have handled a similar scenario through a JV agreement.Your friend can be a "consultant"/contractor you engage, and upon sale of the property he gets paid back $X (which includes his capital and profit%) and you 1099 him.Consult with your CPA.