I've never done this before so i know it's pretty crazy of me doing it in NYC for as my first but hey..Of course i'll be having a very experienced GC to do the work and also maybe as investor.I'm planning to purchase the property with 10% down as primary and was wondering what would be the next step regarding construction or FHA 203k Has anyone done a flip with a construction or FHA 203k loan and whats the experience?

@John YoonWondering how that online store is working out for you?

Also I've been doing a lot of reading on this, but would love to hear any partnership structuring ideas and tips.

Network, attend events, and join online groups.

@Mark Cotter I am a firm believer that San Diego is one of the best markets to invest and even though the data would confirm what I am saying for the past half century or so, I still recognize I am biased as I am a local investor with single family and multifamily properties locally and of course am in brokerage also.  

Of course, it has evolved since then into shorter stays.

Does anyone have any tips?

Of course there are more Pitfalls.

What’s are some tips and tricks you guys have? 

But, it's critical to evaluate the state of the local market, your capacity for managing several properties, and the possibility for cash flow.If you see great potential for long-term appreciation and are okay with the higher property price, option 2 can be a good course of action.