And second what is a good percentage or share to give him since he will be the one there managing the actual flipping?

That's awesome I'm actually originally from there and just moved to South Florida and am starting my journey in real estate investing too.

Each state has their Right of Redemption period, so you can't touch the house until the county actually enters judgement of foreclosure.

I actually purchased my first home before the age of 30 in CA, and invested in several REIT companies (some I worked for previously as VP) including American Homes 4 Rent, Public Storage, and a few others including retail property portfolios. 

There are a lot of "flippers" here in San Antonio but not many actually making money.

Brian in addition to what @Rick S. mentioned, I would also have the seller have the tenants sign a statement - which you will provide - that they understand they must move out within 30 days after closing (which will actually be longer for them considering it seems like your just in the beginning stages of purchasing) and then assign a dollar amount for each day the tenants much pay for each day they go over 30 days - think incrementally, to give them an incentive to move out.

@Michael Swope I'm actually sitting on a deal just like this right now.  

Make sure that the inspector actually tests the quality of the sludge and leach field.

Hello all,I am newer to REI as well as BP and I'm close to looking at actually obtaining my first property.

The other friend I talked to actually works locally in housing and had similar observations.That said, this is a great market from what I can tell in the numbers I find.