Myself and a friend are looking to get into real estate investing, specifically buy and hold or flipping, and we've been doing our due diligence over the past few months listening to podcasts, reading books, etc.  

You can flip, you can buy and hold, you can privately lend - you can do whatever you'd like with the money.What are people doing these days with chunks of cash?   

I am looking to make my first flip, very small nothing major but before I make any moves i want to get a better understanding of closing.

For example, I just closed on a fix and flip project with $0 out of my own pocket.

Now what I'm wondering is if I should fix and flip this or just wholesale.

On the other hand , if your buying a poorly managed restaurant at a great value, good location , etc. you might have a high upside , great value that you could flip if it gets to be too much work.

Buy a really cheap 1/1 in Manhattan to flip for $250,000 to sell for $500,000 a couple of years later while renting it out for tiny cash flow?

What is a proposal I can offer an agent to manage a GC for flipping, that has worked for you?

SO THE QUESTION: When the owners of a house accept your offer and you sign the house under your name to flip it, even tho you signed, are you able to get out of the contract before closing? 

I'm also looking to do some flips, but my primary focus is BRRRR.Thanks!