Where is a good place to start gaining knowledge to make the transition?

My intentions and ambitions are to invest in flipping and hold-on-to residential properties (1-4 units) and eventually get more involved in commercial investments once I gain more experience.

If are buying in or near a flood zone always pay to attention to changes going around you as they will affect your property.

I would ensure you get a formal partner agreement that spells out roles/responsibilities, timing, taxes (capital gains), cash flow, etc.

I think it provides a balances approach, and allows you to gain from the benefits of the two different strategies (they work together rather well).

For example, if the remaining mortgage is $600,000 and the Short Sale is $300,000, the home owner will need to pay taxes on the $300,000 as a gain.

If you can answer this question for me we can further this conversation if my gains don't take a huge tax hit."

We just didn't have the knowledge to be confident in doing so.I have to say that BP is a great source of info and although some things are different here in Canada compared to the US market, I have already gained a lot of knowledge.

I have $20,000 to work with, and with 20% down that would be very tight/ not possible but I was planning on getting my parents to be equity partners with me for the deal so that I could afford it and still realize the CoC returns that the property could gain.

Maybe Florida fraud comes to our attention a lot because people are more vigilant and or/public about it there?