More concerned someone could attempt to claim the property after renovation really.

What you are attempting to do is build up protection as you increase your portfolio and personal exposure.

Please, I urge you not to attempt to fix a house just to get a loan.

My father, sister, and I have attempted to buy property in Lubbock, TX where we've had a couple of deals fall through (bad inspections etc), but I'd rather be patient and picky and get a good deal than be quick and stupid and get a bad deal - especially for my first one.

I was just excited for the experience and wanted to share both the experience and the encouragement I got from the resources so far.I plan on being sure to ask a ton of questions on my first attempt at a deal for sure, but even before that I also plan on being very active on the forums ahead of time.  

Realize that you have folks getting into this at a very low barrier to entry, yet they appear to be stating "what" a property will sell for in six months, you won't find any professional appraiser making such a claim, yet they attempt to. 

But to David's and Benjamin's point, the experience of attempting both of these strategies will be a great way to determine which (if not both) are for me.

I attempted to engage her in discussing some options and she seems highly engaged and interested, however, as I am still in the what I feel to be "learning" phase, I'm not sure how to progress.

Ideally before I make my offers, I will have looked at the properties and gotten accurate repair estimates and ARVs via the help of trusted contractors and realtors (until I am able to gather accurate ARVs and repair estimates on my own).Once my offer is accepted, I will sign a contract with the seller and begin my inspection period and open escrowDuring the inspection period, if something bad comes up with the property, or if I feel like I cannot secure a buyer for this deal, this will be my opportunity to pull out of this deal and not tie up the property any longer.I will then complete all paperwork and coordinate with my seller and buyer to meet for closing.At closing, I will attempt to double close if possible, if not, then I will assign the contract to the end buyer.Starting off, I will keep contact with the buyer throughout his/her renovation and selling process in order to learn what the exact repair costs and selling price were; this will help me to make more accurate calculations and estimates in the future.I will perform my deals and operate my business with honesty and integrity.

I have attempted to provide some information value based on the Indy Vitals data.