Unless pricing is odd, below a 680 score FHA will be the better deal, and above a 680 score Conventional will be better one. 

Still, real estate is different in that shelter is a necessity (versus say me selling pies, if I charge too much you can always buy cakes instead), which means that invariably government will be motivated to get involved.

Your accountant should be involved.

I've been involved and successful on hundreds of deals.

Tenants cant just consent to a solar company coming and installing panels on your house, you will be involved one way or another, most likely financially too.

My parents need to sell there home and I was planning on fix and flipping it for them since I've already been researching all about this investing option and know more about the logistics involved than they do.

Obviously prices don't increase uniformly each year, some years the price may go up, some years it may go down, but if we track the prices long enough, by definition the price will trend to the average unless there are outside factors involved (Detroit collapsing, or the shifting demographics away from the midwest and towards the coastal and southern regions). 

We buy all the furniture we need, the 4 major appliances, plus other odds and ends. 

I've been reading up on it - fully aware how challenging it can be to get financing, finding inventory and all the management involved but also intrigued by the cashflow if the deal is good. 

We still have some odd or unqualified folks get to the showing stage but our background/ credit/ income verification/ reference checks catch the ones that try to hide something.