Update: After 3 years of owning this property I decided to sell it, through forced appreciation and a natural boom in the Ontario housing market was able to sell for $424,000 and walk away with a $200K Profit (Tax-free due to principal residence).

Flipping is a business, and when a tax-exempt entity engages in a business on a regular or repeated basis, then taxation known as UBIT applies. 

You need to make sure you are using contracts that apply to Louisiana, especially since Louisiana law differs. 

Its my nature to take on some risks but being a newbie it seems like playing it safe to start "makes sense".

Late fees apply as of a certain date, once reached never excuse the fee.

Well Cape Cod has NEW ROOF and Windows for plenty of natural light in addition to recessed lighting.

Well Cape Cod has NEW ROOF and Windows for plenty of natural light in addition to recessed lighting.

So attempting to make this my first investment in my BRRRR Strategy and the fact that I can apply for a 301k loan if what I mentioned is accurate then this might be a great opportunity for me.

This Cape Cod has beautiful windows for plenty of natural light in addition to recessed lighting.

Glad to hear that it is totally normal sometimes to have just one person apply and qualify.