Budget Wisely:Make sure your budget accounts for the purchase price, the cost of the renovations, and any additional charges involved in flipping a house.

Since seller-paid fees usually cover their services, you get local expertise without additional expenses.Final ThoughtsLive where you like, but invest where you can achieve financial freedom.Out-of-state investing has proved to present excellent opportunities.

You want to make this clear that additional items need to be purchased by the guests so they are aware.

And what your prior occupation was/is  do you have monthly retirement pay from a W 2.Or are you self employed your whole life and the only one that is going to help you in retirement is yourself.. ??? 

In addition due to prop 13, the tax base is a fraction of if it sold today.   

While I can contribute some capital and sweat equity, I’ll need a partner to bring in additional funds to close the deal.Here’s where I could really use your advice:1.

Additionally, there’s always a risk that any pet-related damages could be hidden under furniture or otherwise concealed, potentially leaving us to cover the costs if the security deposit is fully depleted by other expenses (e.g., damages or unpaid rent).

There waiving regulations that would have impeded it, and are trying to get additional funding to cover anyone who had any lack of coverage. 

Quote from @Kyle Schachsieck: Thank you all for the information and additional resources!

 @Bill B. in addition, the TAR seller disclosure form in Texas also asks specific questions regarding insurance claims and if the proceeds were used by the seller to make the repair.