I am located in Saint Joseph, MO and I am currently in the process off purchasing a house hack, but would love to gain some experience on the flipping side of real estate.

So I have a SF house that we will have owned (and lived in) for two years here fairly shortly.IF after 2 years of living in it, we tear the house down, scrape it, rebuild on the same lot and sell it for say a 400K gain, is the gain taxable?

You can also go to your local Real Estate Investor Association meetings to make some very valuable contacts.Start speaking with lenders (both big banks and the smaller ones) to get a feel of what they would require you to bring to the table.

Thanks guys for the valuable information. 

I did have surgery on my shoulder recently and I'm off of work for 4 months, I have been doing lots of reading about real estate investing and actually found classes coming up to become an agent.My goal in being an agent is to gain more knowledge with the processes of buying/selling houses.

But anything under 2 years you run into tax issues with capital gains so you need to look out for that.Now I am slightly confused by what you mean by 'claim it as a rental property'.

You can secure conventional financing, save money, and gain experience being a landlord.

I consider myself a quick learner which I attribute to a valuable lesson my dad taught me when he took my new bicycle back to SEARS the day after he bought it for my birthday.  

I am an agent I work specifically with investors in selling off market properties and my firm is about to open our third office in GA in the south Atlanta area.

I can take a max of 10% of my paycheck but I'll have to pay taxes on the capital gains if I sell those right?