So does that mean I can't buy from a related party at all?? 

We could make a decent down payment with the 40k, but due to us having little money left over at the end of the month, I'm worried about buying another deal with minimal cash left over after the down payment and not having two mortgages.

I'm interested in flipping, and short-term rentals at the moment to build good cash flow, then pivot into more of a buy-and-hold/appreciation play 10-15 years from now.

Keep your focus on how many crappy properties you can buy each year, instead of buying fewer but better properties.

What type of property do you plan to purchase(Single, multi, commercial, etc) and where do you plan to buy it?

REALITY CHECK: THIS BUSINESS IS HARD.Wholesaling and buying houses off-market is a sales game—and sales is brutal.

.- Women are buying more homes.

I buy houses in the Memphis market.Terry Clothier REI Nation

Many people don't buy because they are concerned about this and that.

You didn't buy the house to preserve it, but for it to produce income.