I want to use the LOC to purchase my first investment property to flip.

I have no past real estate experience outside of paying rent BUT I'm currently looking to get my start in investing through wholesaling and scaling my business up to a focus on renting/flipping muti-family units and some single family flips and wholesales.

I live in the southeastern Wisconsin area and I am looking to do a flip property as my first deal.

He said he's completely gutted and flipped 15 houses last year, he showed us pics and the work was impressive.Neighborhoods felt very nice, but surround areas seemed a little more rough (strip malls, etc.)

It looks like condos in the complex with the same sq ft that have been flipped, are selling at around $110,000. 

When we fund deals that are riskier because the borrower has bad credit or has never flipped a house we are taking on more risk. so we will want that borrower using our system.

The rental property and even the fix and flip market seems a lot better in Texas. 

If not, you may have trouble trying to flip the contract on this one. 

The type of contract will depend on what you are doing with the property i.e. buying for yourself, flipping, wholesaling, wholetailing etc-You may need a CRM to keep track of leads etc but that's really probably more for when you scale and start doing some volume.Anyway, I hope all that helps.

My plan is rehab, live in it, then flip in about a year or so when I move back to the mainland for work.