Another option to check out is flip funding if you want to take an even more passive approach to watch the whole process unfold with even less risk.Too many options to throw out in a simple forum but shoot me a PM if you need any help with getting started.Cheers, and happy investing!

Stop watching HGTV this dose not count as flipping education. 5.

There are quality properties and great folks in the business out here, but it is beyond critical that you're either here to manage/watch your properties, or have someone you trust implicitly to do so.

After I made my first post, I've been researching and watching webinars here at BP and now I'm a little bit educated.

Atlanta is one of the greatest places to be if you want to be an investor, watch almost championship teams, have a great job, and sit in traffic, then eventually become your own boss and work even more!!  

We figured it was worth ARV of $290-310k and landscaping/repairs of maybe 10-20k, so pretty excited :o)He knew the auction lady and she told him they were going to bid in for the bank at ~$250 so we were out and saw another guy pick it up for maybe 5k over that.Fast forward to last week.

2) Are there any legal time limits with how long I have to own it before I can rent it out, or anything I should watch out for like that?

Any "lead" from your realtor is also going to be seen by every other "investor" who watches flip or flop and attended a seminar. 

We figured it was worth ARV of $290-310k and landscaping/repairs of maybe 10-20k, so pretty excited :o)He knew the auction lady and she told him they were going to bid in for the bank at ~$250 so we were out and saw another guy pick it up for maybe 5k over that.Fast forward to last week.

have a few more space heaters ready to go if things get really cold.. watch out for plumbing.. you might want to keep water flowing a slow drip..