As a first-time flip, I suggest we talk a little more deeply as to what considerations you plan on doing and your overall goals in flipping homes in that area.

And then take into consideration the higher time demand to manage turnover and screening applicants.

This is because collecting rent is often seen as passive income, and the state may not consider this "doing business" that would trigger the registration requirement.However, states like California or New York may have specific rules, so it's wise to check state-specific requirements.Active Income (e.g., House Flipping):Active Business Operations: If you are engaging in activities like house flipping, property development, or property management, this would likely be considered active business operations.

Before pulling the trigger on this, read up on prohibited transactions.

I would recommend start going to see properties about 6 months before you are ready to pull the trigger, maybe starting with open housesand finally....

.- Buy a multi-family home - I've seen some for as low as $250k, but I'm sure there will be different deals by the time I'm ready to pull the trigger.- Take out an FHA loan for 3.5%.

What a great analogy lol Not decided on that strategy, just researching about that specific one.The main reason was because a land trust can be a co signee on a conventional loan and can help with transferring the conventional loan to an LLC later one without triggering the due on sale clause

But once we went through the process of this revision to approved action, it triggered HCD to get involved since it’s in their jurisdiction since it’s a “special occupancy park”.

Any advice from seasoned investors would be appreciated on pulling the trigger on the first investment property.  

As someone who just pulled the trigger a few months ago I decided to go with turnkey to mitigate my risk.