I want to turn this into a business and eventually hire people to work for me.

Hello everyone I am 18 years old, with no proof of experience in the fix and flip business.  

My only concern is what if they close shop or sell their business?

I have a painting business and my partner has a construction business in nyc and we've already been doing jobs in CT. as for time I have loads of time on my hands and I am pretty handy my self.

You don't start your learning at the top of a hill headed into a busy intersection.

Along with total amount borrowed, cash flow, length of time in business, business practices, Interpersonal skills and what makes up your assets, Etc...Good Luck!

While people will always need homes people can consolidate, move and unfortunately become homeless.There are risks in all business. 

However, while utilizing one has no costs involved, it performs the best from a tax standpoint with properties that have a gain of $300k or more.

In addition, building into  the business model an intentional refinance in a short period of time, you are incurring double the financing costs, which eats away at your equity, and also resets your loan amount to potentially a higher amount if you are rolling in closing costs.

Yet you still haven't answered my original question.The first reply had all the information you need to consider and then use to make a decision that fits your business.