We live in Texas, a community property state, and are 50/50 owners.

I live in SW Washington.

I am starting with a small budget(100k-120k) so trying to understand which neighborhoods I should focus on, would love to get recommendations if you have :) I live south of the city and only like to go about 30 minutes away from home. 

Tax-wise, profits are taxed at your ordinary income rate, and frequent flips may subject you to self-employment tax if classified as a dealer by the IRS.

@Khaled Seirafi I've invested in several things in real estate: residential, commercial, small multifamily, mobile home parks, short term rentals, co-living (rent by the room) and I just bought an assisted-living facility.

But if it’s in the main living area and the space is already tight, then getting rid of it could help you maximize the layout.

I was fine with all these numbers.Then I met with contractors...First, I wanted to add a new bathroom and approximately 450 sq ft of additional living space.

Good morning,Bigger Pockets Forums, Today I’m doing the inspection of what I hope becomes my first real estate investment.I spent the last 2 months reading, listening to podcasts, talking to other investors, combing through listings, and visiting properties in Baltimore near where I live.  

They had carpeted the bedrooms and common areas, and the living room was still original wood...well I decided to pull up the old carpet and lo and behold - original wood in pristine condition.

I do pretty decent for my age, and I live at home still, so I've been saving up a lot of money.