There are a few podcasts also that seem to have some good information.I plan to save up money for 2 years while I put my team together.

Then as we grow we plan to get more into syndications.  

Have you discussed the reason he is planning on exiting stage left? 

The amount of time you will waste trying to dance around the issues will be legenday and shall I say, "insisting on being right (or insulted) when you don't know the answer can be costly".I was planning on getting a CPA, but not knowing the right questions to ask of someone who I don't exactly trust yet (as a new customer) isn't the best way to go about things.

I signed up for the unlimited books on tape plan and wanted to say it's fantastic.

Having an existing HELOC is always a great resource (if you are planning on repaying the HELOC through the sale of said property, assuming equity would cover the loan payoff.

This is my plan and feel free to tell me what I’m doing right or wrong.First note: i DO NOT have a **** ton of cash sitting around. 

Is the plan to pay it off out right after the fixed rate expires?

- You missed utilities in your holding costs- For your first rehab you should plan on a little more than 6 months, just in case- You might want to double check your tax number as taxes in NY can be pretty high- The biggest area where mistakes are made for new investors when it comes to flips and BRRRRs are in the ARV and the rehab cost.

To effectively plan your investment approach, it is important to educate yourself and prepare financially by attending seminars and webinars.