Seeking equity partners among other professionals for mutual gain.  

Think of this as a business just like any other business and of course you are going to do it to earn money either as cash flow meaning on an per month business or as a long term investment where you will be looking to earn capital gains, meaning your properties will be valued much higher as the future than they are the day you buy them or you are going to use a combination of the two strategies.

It appraised for $198k so I've made good gains in the rehab and use it to cash flow now.I also have a REO single family home that I have about $270k in. 

I feel that this will help me gain more knowledge about the business.

I would suggest partnering up with an experienced investor for your first few projects to help you get some skin in the game and gain some hands on experience.

The majority of people who go through weight-loss programs and actually lose weight seem to gain weight again after completing the program.

"You are the average of the five people you spend the most time with" - Jim Rohn"Tell Me Who You Spend Time With, And I Will Tell You Who You Are"What have you had to change in your life to to gain better friendships?  

vs. 15% capital gain tax if one holds the property 1year+. 

He would be able to keep all gains, profits and cash flow from the investment and would be taxed on that, he just have to pay back the loan plus interest.

Concerning investors looking to purchase properties for cash flow, if the house is already fixed up and on the market, should they still buy that property at 60 or 70 percent of the FMV as "profit/capital gain" investors buy?