There is a lot of activity going on down in Holy Cross but I am still afraid to venture into the lower 9th ward because I am not confident in the flood protection there.

My biggest hurdle will be coming up with money for my real estate ventures. 

You could either sell your current house, rent it out, or rent it out and later (after closing on your first time buyer property) refinance it to provide the equity to pursue further investments.Best wishes with your REI ventures.  

I'd venture a guess that some other people on BP might be able to give you a better account of that area in Milwaukee.

One thing I would say is that given your capital resources, your best bet is probably going to be a Joint Venture type situation with an individual seller.

I've been lurking the BP website, absorbed at least 50 BP podcasts and have listened to a few real estate audiobooks in the car trying to educate myself as best I can before I venture in to the REI business.

My math shows 70% of $190,000 is $133,000 as well.Best of luck to you on your BRRRR investing venture!

At first I'm interested in house flipping because it seems like the quickest way to make a profit, but I could venture in other options as well.

This is key, but again, if you DIY PM 1st, you'll learn this very quickly and know how to spot it in a PM you hire.

Good luck with your REI ventures.