I'm keeping all option open though and I'll be exploring options in the suburbs as well.

It is not set in stone but I figured it was a good time to explore my options in terms of where to live.

@Kevin AllenIf it’s a flip where you receive the proceeds and use it as a down payment for another property, yes you will treat that profit as taxable income, taxed at your ordinary rate.Since you are looking to move those profits into another property, research a 1031 exchange, it may be worth exploring as a method of deferring the taxes until (if) you sell the next property.

I would echo both responses and think you should explore the options of refinancing the property post-flip if the numbers work to cash flow. 

Hi All:As I begin my journey and explore some of the different ways to raise capital for an initial deal, I have run into an interesting question that I would like some advice on from folks that I know are more experienced than me.I live in northern Virginia, and have a home I have owned for about 5 years. 

Finally, once I find a city I'm comfortable with I like to make sure I explore the pockets/neighborhoods of that market. 

@Brian Boyd I have not fully explored trailer park investments here, but I think that lots would fill if something was available. 

I’m currently exploring ideas and options before making any final decisions.

I’m ready to explore throughout the real estate.

Currently I work as an analyst for a large company, with a decent salary, but I want to explore other opportunities to earn a additional income while I am young and have a flexible.