I have a very good friend that was snagged this way after being involved in a nasty lawsuit.

We want to do this as a second source of income and because we both have a passion for the work that is involved taking on an investment like flipping.  

Basic pointers I'd recommend is to start looking online at your own market as you're learning the concepts to compare them with your market, and get involved with an investors association down there - If I could it would be my first stop in deciding if REI was the right place for me.Welcome to the community Aaron!

@Gene RobinsonWelcome to the site.Good luck to you & I'll see you around the forums.

Make sure you understand all the costs involved so you don't just break even.....after keeping your money busy for months.  

Are you involved in REI here in the Atlanta area?

You can pay your agent, some sellers won't want an agent involved thinking they will get stuck with a commission, not true. 

My name is Chris and I am interested in getting involved with flippling properties in the Metairie and New Orleans area.

There are many nuances involved in the administration of a 1031 Exchange in a foreign country because no other country has the 1031 Exchange or understands how it works. 

No police should be involved,  they have real criminals to go hunting for unless there was damage done to your vehicle.