I in the meantime kept reading articles in BiggerPockets.

@Joe Splitrock Thank you for this post and the articles/news.

article=1029&context=contemp_taxhttp://www.floresattorneys.com/popup-newsletter.php?

I've seen many great buy in the Houston area but having a hard time finding loans that allow a flip.Tthe homes are in need of numerous repairs and do not qualify for investments loans through banks.How does one proceed?

I wrote an article that I posted on my BP blog that explains the 1031 process and breaks down how everything works.

I've read a lot of forum posts and articles but I can't quite seem to find an answer for my situation.My parents and I have an LLC partnership, me 50% and them 50% (25% each).They own lake property (both of their names are on the deed) and they are planning on selling it. 

I think 15 year loans get slightly less interest rates (about .5%), but the payment is still much higher vs the 30 year loan.Also, if you google "15 vs 30 year mortgage" a lot of articles come up with information on how to decide between the two.

I have found their weekly newsletter to highlight great articles therefore I don't have to search for them.  

http://money.usnews.com/money/blogs/the-smarter-mu...http://www.wgcpas.com/tax-alerts-2015-articles/405...The first article has guidelines for figuring the gain.

The financials for apartments is something I find interesting - determining how to make sure the numerics fit the goal of the investment.