I wrote an post here on BP about it and how to properly structure your transaction. 

I work in Multi-Unit Retail Management and am passionate about personnel development and process optimization. 

Google maps is showing that (the area I'm looking at) is only 25 min from downtown Raleigh.Redfin "market insights" show that the Wendell home prices per square foot have risen 12% since last year (not sure if this is trustworthy data)...I can't find year-over-year info about unemployment.In other news, Wendell Falls is still developing (commercial and residential properties) and a charter school is said to be coming to Wendell Falls...Thoughts?

If you can't find a proper deal in the meantime consider trying to find a more flexible living situation such as with a friend or a short term situation via craigslist.

The various calculator are a fantastic resource which I've been using to try analyse a bunch of deals to develop my own knowledge and experience.I've been struggling to quickly and accurately estimate the Variable Landlord-Paid Expenses for rental properties. 

As I mentioned in my previous letter, I look forward to continuing to maintain your address with the same pride and quality that <prev owner> has taken in it over the past 19 years.We are hereby cancelling your existing month-to-month tenancy effective <date with proper notice>.

Do you have to do new development or can someone just acquire a property there and hold it? 

If not, then why not - is it on them, or is it because of the owner of the property not budgeting properly?

Thanks all for the advices.About why flip instead of hold, my realtor reasoning is that the pool adds to the liability when renting, and needs to be maintained properly, that's an extra cost, and given the rental rates in the area and the potential resale value, it seems like renting wouldn't provide much so much cashflow to make sense, it would barely break even or even have negative cashflow.My wife is of the same opinion, while for me renting even if it doesn't provide that much cashflow, makes more sense due the extra taxes when flipping.

Any books you can recommend on the topic of Business Development?