This property is in a great area for me in North Arlington (great schools, stones throw away from a huge community park, and close to I30), and the plan is to live in it for a year or so before renting it out (I’m sure I’ll be picking your brains when the time comes!).

I am excited more about real estate investing wherever the Army has me stationed at and how to use my VA loan to buy a great investment(s).I plan on staying Active Duty and do real estate at the same time.

It's a 3bed 3bath floor plan with an attached 1-car garage.  15-20 minute drive to the beach. 

***Only exception is if an owner has plan & funds to reposition Class D to Class C or higher.https://www.biggerpockets.com/forums/776/topics/960183-what-they-dont-tell-you-about-cheap-rental-properties?

Do you have the permits and the plans?

I am planning on going in depth with him next time we meet.

Also I'm planning to partner up with friends to acquire more rental properties. 

Something like that where you are paying a la cart fees that are applied at close under the buyer-broker agreement and commission agreement.Its going to be fun to figure out this year and next, I’m building basically a subscription based brokerage right now anyways where they sign up for the “plan” that suits them which will require the mandated buyer-broker agreement and commission schedule. 

If you have a lot of assets, W-2 and are flipping in a different state you definitely need to speak to a qualified estate planning attorney, cpa and an attorney that deals with entities and which entity to form.

It's all about playing the long game or having a killer backup plan.