I'm not talking about a 30 page business plan but have good outlines of your deals, financials, and understand the market. 

We have visited several homes but none of them seem to be good flips for our first project.

I have been marketing, networking, making offers (5 under contract, but none sold), listening to podcasts, soaking up through the pages and pages of knowledge here on BP and other resources as well.

In my experience both partners really have to be on the same page and realistic about the capabilities of each other and share the same goals.

The tenant and I initial the bottom of every page.

I bought one of the books that bigger pockets offers so far and it's been a page turner from the start.

I was just pre-approved for financing and am beginning the journey by analyzing properties and setting up some visits today@Jeremy Pace@Jesse Peña@Chris Pasternak@Melissa Gittens@Gary Swank@Jerry Padilla@Helen Bollinger, by house hacking I was indeed referring to living in one unit and renting the other.

It would be better if you can partner with someone with experience to the blind won't be leading the blind.As far as spreading your fund over several deals that is a good hedge for your funds.Make sure everyone is on the same page. 

I went to school up there and visit whenever I can.

I found the HUD web site for you.