I looked for a forum called "flipping fails" and could find none, so in the interest of full and honest disclosure of good, bad, and ugly sides of this business so that you don't get the wrong idea that real estate investing is all roses and buttercups...I present the following "flipping fail" to share a big lesson learned.This project started with good intentions 2 years ago when I found a HUD home in a resort area of east central Georgia called Lake Oconee. 

Article 25 defines a real estate broker as an individual or an entity, who with intent to collect or receive a fee, compensation, or valuable consideration, sells or offers for sale, buys or offers to buy, provides or offers to provide market analyses, lists or offers or attempts to list, or negotiates the purchase or sale or exchange or mortgage of real estate, or negotiates for the construction of a building on real estate; who leases or offers or rents or offers for rent real estate or the improvements on the real estate for others, as a whole or partial vocation; who engages in property management as a whole or partial vocation; who sells or offers for sale, buys or offers to buy, leases or offers to lease, or negotiates the purchase or sale or exchange of a business, business opportunity, or the goodwill of an existing business for others; or who, as owner or otherwise, engages in the sale of real estate as a principal vocation.I read this as closely as I could a few times and could not develop any confidence on whether or not it applies to people who want to wholesale in the way gurus and others talk about it.  

I am currently working on doing my first "intentional" real estate deal.

That is not the intent of a home inspection. 

If you had no intention of using their race in the selection process you would simply leave it out of your description/question.

My original intention was to live here for several years, rent out the other unit, and eventually save enough to buy my next property and keep this one to rent out both halves.

(General, I know I need a lawyer :) )I want to do it honestly and ethically, which includes notifying the owner of my intent to resell.Ultimately, my goal is to turn my way of digging up wholesale opportunities into properties that I invest in; create a system that works and fits me as I change.Thanks in advance.

Anthony - I know you are well intentioned  but "lower income" and "moving" to towns like "Phoenix, Houston, Atlanta or Dallas" encompasses a whole LOT of factors (Economic/social etc etc) that don't translate easily to uprooting from their existing place and moving to  as you put it.  

I think I may have worded this incorrectly, which is why you found my comment incorrect and you misunderstood my intentions regarding not future taxes, but previous taxes (paying the 2014 taxes in 2015).

Put your terms and intentions on paper and both of you sign it.