I understand that margins might be tighter, and income may not be as attractive as the STR market, but we also don't have the capital, time, or competitive edge to deal in the STR market in the 30A corridor right now.Don't get me wrong...

The real estate license that I'm looking to obtain will be specifically for flipping houses.

Likely not.A self directed IRA is an equally viable means to diversify existing retirement savings into real estate, and you do not need to change plan formats if 2-3 years down the road you get tired of dealing with eBay and are no longer self-employed.The IRS is not specifically targeting self-directed retirement plans.  

So I have been doing quite a bit of researching on market cycles, more specifically emerging markets.

Most of this piece probably won't focus too much on specific deals, but rather, on my experience throughout this (ad)venture, starting out as a reckless and aimless 22 year old. 

It really helps me to be as specific as possible when setting a goal.

(I'll list some books below that are great to start with) Joining your local REIA is a GREAT way to get into the world of investing for your specific area.

Thanks to BP I had enough margins in the deal to still make a profit.

Please note that I don't know how plausible they all are so feel free to comment:1) Write it into the offer that the eviction process has to be completed by closing, else I can walk.2) Ask for money back at closing to cover any fees plus unforeseen damages to the property.3) Walk away and find something else.Oh great, now I can't figure out how to get my margins back to what they were before....anyway, I haven't made an offer yet.

Send them a flyer with the specifics of the house.