Hi Serena... the house never actually went on the market, so we never had to get a PM company. 

I actually don't mind the wait because I'm working on one of my properties to get it ready to sell, so I won't have time to work on the one I'm buying until I finished the one I'm selling.

And second what is a good percentage or share to give him since he will be the one there managing the actual flipping?

Here is a part of the letter, I sent to the seller:The home inspection was completed on September 29th (please see attached) and the following issues were pointed out: 1.The wooden floor frame in the middle unit is deteriorating due to either prior water leak in the bathroom or due to moisture infiltration through the walls and foundation.2.There is evidence of significant settlement under the middle unit bathroom and north closet.3.The settlement of the floor and walls has also resulted in settlement of the roof frame above this area, ceiling shows cracks.4.There is an obvious depression on the roof – water is ponding on the roof above the middle unit, which adds excessive weight on the roof and potential for leaks.5.Asbestos containing material has been found.6.The current bedroom heat installations in the north and south units pose a safety hazard from carbon monoxide, fire and oxygen depletion.7.An electrician performing upgrades did not use ‘arc fault breakers’ in the north and south unit breaker panels, which is required by the national electrical code.8.Upgrades to the electrical system, promised by a real estate agent, have not been completed yet.

That's awesome I'm actually originally from there and just moved to South Florida and am starting my journey in real estate investing too.

Each state has their Right of Redemption period, so you can't touch the house until the county actually enters judgement of foreclosure.

I actually purchased my first home before the age of 30 in CA, and invested in several REIT companies (some I worked for previously as VP) including American Homes 4 Rent, Public Storage, and a few others including retail property portfolios. 

There are a lot of "flippers" here in San Antonio but not many actually making money.

Brian in addition to what @Rick S. mentioned, I would also have the seller have the tenants sign a statement - which you will provide - that they understand they must move out within 30 days after closing (which will actually be longer for them considering it seems like your just in the beginning stages of purchasing) and then assign a dollar amount for each day the tenants much pay for each day they go over 30 days - think incrementally, to give them an incentive to move out.

@Michael Swope I'm actually sitting on a deal just like this right now.