I thought I had read specific language regarding IRS prohibiting a flip, but your explanation clears things up for me.

Thanks, @Sam LLoyd and @David Dachtera.I will definitely hire a well company to give me the best read on the situation.Regarding city water, I suppose I haven't entirely given up on that option.  

I suggest reading Ultimate Beginner's Guide to Real Estate that is available on this site.

I have been reading every book I can get my hands on and listening to as many blogs as possible.

I wanted to rent out properties so I am picking up reading about it.

Can anyone make a suggestion on good read with solid info on wholesaling and how to get started?

Most of that time was spent educating myself by reading books, talking to other investors, and watching youtube videos.

Getting to here has been a 2 year journey - reading, analyzing, contemplating, no action, repeat.  

I read somewhere that,for buying purposes, it is better to remove the inspection contingency as it will give me a higher chance to win this bid.

I'm new to REI Ive started reading books and listening to podcast however as many say it's better to just dive right in!