My next step is to flip a property for about a $35,000 profit and sell it within 4 months.

It’s not terrible advise if you read into what I meant .Im just telling the fella where the money is all going .hard to save for that next investment when your giving your profit out to everybody and their brother  wouldn’t you agree .I understand your point ,there’s a scale to the management but if you are just getting into RE sometimes self management helps you bring in more cash flow therefore allowing you to add to your portfolio . 

Offer the note for as a down payment on the real estate you desire to own.same as #3, but ask the seller to take back some paper also (if not all of it) this is called "papering out"create a note again on one of your equities - sell the note for a cash discountmake an offer on the property you want subject to a 1031 exchange or subject to an outright sale of another propertyoffer one of your properties for sale with a deep discount (you'll have lots of interest) with an option to buy back in a few years (you get cash and have an option to buy your property back - buyer has your property and cash flow for a period of time plus a great yield on his investment)borrow on your home - use the proceed for cash flow real estatedon't buy - C O N T R O L  the property you want with a skinny contract of sale - with the right to market and possession if it is vacant (do a little work and improvements) offer it for sale at price that will give you a nice profit  - assign your contract for a profit.

I'd avoid 1/1's as the turnover rate can eat your profits alive.

I also have some undeveloped land in town (3.5 acres) that I bought at a steal from a non profit org.

I will sell it to him for $1He agreed to pay $12,500 in 12 months to cover the money I have invested in it ( Down payment)  and some 3,000 Profit For MeHe also agreed to pay all the utilities, and all repairs, damages that the house may need, now and later.  

Then profits straight through.

May as well make a profit for your additional work load and expenses.

Or would you recommend waiting to find a deal where you were making a small profit after mortgage, insurance, and taxes?

Or is the only way to delay paying those taxes is to 1031 those profits into a larger property?