Along with that, you have liability issues that you can be exposed to if you don't properly hire, document, and pay contractors.  

@Gary Kuang - You should be able to use the search function in the profile area to locate investors in the NYC area who are doing flips.

I did already take some action by finding a cash buyer , but I need to get some info on things like how to properly figure out the repair costs, what I do step by step when I find a good deal , how to know how much I sell the contract for , etc.

For your first rental, I would stay out of the Tree streets or French Hill, if you are buying in Nashua proper. 

Some other issues as well.A second lien which survives a foreclosure would typically be from lack of proper notice and identification to be foreclosed.  

There's lots of resources and information here on BP, so definitely use the search function, but never be afraid to ask questions.

With proper coaching/mentor-ship and practice they, intentions, can become professionals, goals, that are clearly defined and have a purpose.All the best to you brother!

I am a master plumber in my day job,I would get rid of the guy immediately if you had him sign the proper contracts when he started working,if not you need to work things out with him and get the job done,most likely he has ran out of money and will start asking you for money to finish Do not pay this guy any money to finish,if he can't afford to finish most likely he will tuck his tale and disappearMost all contractors are living from one job to the next,hire only licensed and insured guys The idea of saving money flipping houses will only cost you more money in the endGood luck @Dele Ola

@Matt Schelberg  just functional, physical and social obsolences at work in the market place.. its so foreign to us out here..

I have heard if you set it up properly you can get in properties with little to no money down.