If I am wrong, please let me know!

Brandon, I would have 2 businesses, the properties you hold are yours, you have had them for a while, keep the flip a separate business with your partner. nothing wrong with a 50/50 deal, i am just starting a flip like that, i partnered with my Realtor/ PM, i am the money and she is taking care of the rehab. the property is 3 hours away from me and i will maybe go out there once or twice a month. i have no problem splitting the profit with her. and as far as the assistant, you may find that the flips will take up more of her time, you may want to come to an agreement as to her time allocated to each business. that will be the toughest part, she will be swamped with things to do that adding her to keep track of her time of what she is doing for both business is asking a lot of her. if you find a way to do that, great, if not maybe an agreement that the flip will pay say 30 hrs of her time where your holds will get billed 10 hrs or whatever.

There are great pockets in the East, and also pockets you will certainly get your Lexus car jacked if you drive down the wrong street.

You're in the wrong business.

Obviously they could be wrong, and will investigate it further. 

[If I am wrong about any of that, I apologize.

It is 3 full years from the date of the lien - not the date of the last tax payment.I'm sure someone will correct me if I'm wrong - that is the great thing about BP.

Like anything else in real estate, there are right ways and wrong ways of doing things.

What are some of the things that could go horribly wrong?

You're sending the wrong tone.