They have been there for 4 years now and want to stay.my biggest obstacle is that I am leveraged on my credit so much that my credit is not looking so good these days because of the debt to income.What is my best course of action?

How did you conquer this obstacle?

I just want to avoid any obstacles that may come up.

@Zac LindquistThis might not be the best strategy to use at the moment since there are so many obstacles that would need be over come in order to arbitrage now.

Developed processes & systems that allow you to scale and take on each obstacle one at a time.  

Can I still make an offer contingent of clear title and just pay the taxes with city (if this is the only obstacle on title as he says) and then proceed to close?  

After visiting the property (which they dropped their ask price by 5K- $54,900), I learned that the property is in a flood plain and that has been a big obstacle considering insurance rates.

I am new to flipping and I am looking at a single family home that is a 3 BR 2 BA with a three car detached garage.

In other words, a business plan should absolutely contain goals, but in addition, it should contain action steps to achieve those goals (MILESTONES), discussion of how you'll afford to work towards those goals (FINANCING), an overview of who is involved in achieving those goals and their specific roles in the operation (BUSINESS STRUCTURE, BREAKDOWN OF RESPONSIBILITIES), substantiation for why those goals are achievable (MARKET ANALYSIS, COMPETITIVE ANALYSIS, CUSTOMER ANALYSIS), a discussion of the obstacles/risks standing between you and those goals (RISK ASSESSMENT), and how to mitigate/circumvent those obstacles/risks (RISK MITIGATION, ALTERNATE EXIT STRATEGIES).Do you need to write all of it down?

My son is doing this on his first single family detached as he bought in a more expensive area that wouldn't cash flow so well but it's where he wanted to live, so basically someone is paying half his mortgage for him.