Also plans to attend a few of the REI meetups in Dallas... that will be a challenge b/c I'm a bit on the reserved side.Thinking the first flip project will likely be a partnership with a buddy from Dayton that flips four or five houses a year.  

Just wondering, what kind of interest rate is your bank offering you if you don't have the cash reserves?

Make contact with the seller and confirm that he/she is actually willing to sell.

They seem to be ending the bidding with no winner but then selling the properties at below reserve price to whoever the highest bidder was, plus 5k (based on an analysis of 2 sales so far, so not very many data points.)So glad you got a deal and thanks for giving us the update!

Because HOA can issue special assessments any time according to the bylaws, it has the potential to wipe out your multiple year cash flow and reserves. 

unit was occupied both sides of duplex coe. rear unit vacated first week july. front unit vacates in a few days. just did the measurements with a digital tape measurer., off by 30%, which is huge. House was sold t...

Most of the new investors I work with typically get started with flips until they build up enough cash reserves to buy and hold.  

Just make sure the HOA fees are not too high and that the HOA has plenty of money in reserves for capital expenses.

The seller receives an appraisal in order to select a price for the home, and the buyer gets one to confirm that the selling price is fair.

Just make sure you have the reserves needed.