I am no expert, but this does not seem to be worth that risk, however small the risk may be.Maybe if the house was worth substantially more than $149,000 or you were able to give the seller a lot less than $65,000 it would be worth getting that extra equity despite the risk.  

It sounds like they went over their substantial improvement funds, but I am not sure what ordinances pp has for the community rating system, sometimes they are 5 year limit 50% of recorded value before the home must be brought into compliance (raised), but different cities use different standards.

All a matter of your personal opinion with no credible data to substantiate it.

Here's my snag: I may be changing jobs in the next 6 months to a year, and with that job change comes a concomitant substantial pay decrease.

Also, since the cornerstone of real estate is actually finding good deals, you may start your REI career via wholesaling, which can generate a substantial side income (although active, not passive) that you can redirect back into growing a portfolio.  

How I interpreted this was that from the investors I talked to, pretty much all investors know what a flip is, but a substantial amount still don't know about the specifically BiggerPockets-coined BRRR technique.

At least 50 percent of the assets of the business, valued at cost, must be invested in real estate which is managed or developed and with respect to which such entity has the right to substantially participate directly in the management or development activities.b.

For investors who are using adjustable rate mortgages it is recommended to refinance into a fixed rate if it is reliably forecasted that interest rates will rise substantially.

“Institutional” means that you could potentially own investments similar in scope, size and quality to pension funds, foundations, endowments, etc...we are talking about projects valued at roughly $50-125M...substantially larger scale than you find in the crowdfunding space in general.Back to @Mark Robertson,@Jay Hinrichs, @George P.

Also, I would kindly ask you do not post statements of fact, or allude and infer the like in your comments, unless you are able to substantiate them and/or prove their validity.