Amanda, welcome to the world of investing you have made the right choice.

I think it's an awesome choice and can be really rewarding.

@Garrett Beecher  I have personally only been a speaker at the reias a few years back but I know they are active here as well.but yes very tight market for fix and flip... a few of the larger builders that got hammered in 08 have gone into infil and rehab ... and they are stout competition...

I'm eager to purchase something of my own now, but would require the larger loan/a conventional loan that may not be the ideal path. 

People generally will be working around 15 minutes away in a larger city called Dekalb IL or if you were like my parents you'd commute to downtown Chicago or St.

What is his credit score and job history..... it only takes one person to crash a plane.Also remember that these are not your only choices.

But in the end, it comes down to choices.

Either way, you made the right choice.

I am an extreme DIYer but I would hire a quality GC for a larger project like this.  

Just know the that your choices can both have positive and negative effects.