Hi everyone,I'm looking at purchasing a 7 unit property, duplex and 5-plex, in Nevada.

It says "Profit = sales price - purchase price - expenses"  Even on the levered fix-and-flip deal example it gives the full purchase price. 

Hello Everyone,I currently own a property in the 38141 zip code and am considering purchasing another one.

So just take that into consideration with the purchase

You only have to purchase at least as much as your net sale and use all of the cash from your sale in the purchase.1.

I have a signed purchase agreement with the seller and have proof of being able to go through with the purchase on my end (financing good to go, title company set up, etc.).  

I focus on purchasing solid off-market deals and BRRRR'ing them.Happy to discuss how I can help, share some resources, etc.

Any amount you purchase less than your net sale - that amount is taxable. 

@Ryan BiankowskiYou absolutely can.Research your market, come up with a flip strategy (what type of house you will want to purchase, how you plan on finding this property, what area you want to purchase, how you will come up with financing), find the property that fits this strategy, secure the financing, and close on the deal.

In your experience, would you advise that it's best to avoid the complexities of the foreclosure purchase process as first property newbie, OR proceed with caution under the right circumstances.