@Andrew Kerr​​ you are correct.

We own our home and would like to start looking at either flips or buy and hold but it seems like buy and hold mostly would be a cash negative situation in our area  - is that correct?

@Michael TrinseyYes, your basic understanding is correct. 

@Sam Shueh (Correct me if I'm wrong but) Don't FHA loans require you to live in the property for a certain amount of time though?

Infectious Diseases & Critical Care doc (yes you read that correctly: 2 years ID, 2 years CCM). 

To answer your question: You already knew there were tenants in place when you put in your offer, correct?   

.- Row 3 will hold sale proceeds- I will sell the property in year 5 So it will look like this:A1= 100 (cash outflow)B1= 10C1= 15D1= 15E1= 15E3 = 25 (proceeds from sale of asset)Here is the formula I am using to calculate this=IRR((A1:E1,E3))This will return a value but I am not sure if it is the correct way to calculate this because I am not sure how Excel is interpreting these flows with regard to timing.

Any area in Atlanta(especially inner city areas like the West End, Bankhead, Cascade) would be a good investment with favorable terms and the correct strategy.

Jonna is correct, we are a non-disclosure state meaning that we do not have to disclose the sale price to the county. 

One last question; if I do get my license yet it's considered inactive because I don't belong to a broker, I would still be required to inform the public that I'm "licensed" while wholesaling, correct?