It's the best way to test what you like and don't like in a low risk environment.Once you've done this, you'll probably have even more saved up and experience to make you more confident in choosing a direction.If you decide to just dive into one of these markets and strategies, I'd recommend focusing on your personality, goals (cash flow first or something else) and how much time you have.

I purchased all cash for my first deal for a few reasons.

The annual membership fee, around $200, is well worth it.

If the house were minimally livable based on other prices of houses in the neighborhood, excluding the extra land what do you think the house is worth if you had to sell it?

@Louis Zameryka - Prices are high, but you can most definitely still find cash flowing deals.  

My wife and I have done about 30 flips over the past few years, typically with a partner of ours that has a good amount of cash which he invests, then we split the profit.

Or is it worth going the route to find another investor to buy it at the 335k mark so they can resell it for that upside? 

For that much down and with the lower payments a high level cash on cash return should be in the 10-20% range..

Is there anything I need to know, is this even possible, more importantly would it even be worth it??

As the foundation of real estate investment analysis, underwriting allows us to evaluate potential returns and associated risks accurately, ensuring informed and confident investment decisions.Understanding critical metrics like Net Operating Income (NOI), Capitalization Rate (Cap Rate), Debt Service Coverage Ratio (DSCR), Gross Rent Multiplier (GRM), and Cash-on-Cash Return is essential.