And just because of that Id be highly wary of anything he promotes......

Each strategy has its own set of benefits and drawbacks, as well as potential returns and risks.Buying to Flip for Quick ProfitBenefits:Quick Returns: Flipping properties can potentially yield quick profits, especially in a hot real estate market.Minimal Holding Costs: Since the goal is to sell the property quickly, holding costs such as property taxes and maintenance expenses are minimized.Creative Freedom: Flippers have the freedom to renovate and design the property to maximize its resale value.Drawbacks:Market Volatility: Flipping is highly dependent on market conditions, and a downturn in the market can lead to reduced profits or even losses.Capital Intensive: Flipping often requires significant upfront capital for purchasing, renovating, and holding the property until it sells.Income Tax Implications: Profits from flipping are typically taxed as short-term capital gains, which may result in higher tax liabilities.Buying for Rental Income and Long-Term InvestmentAdvantages:Steady Cash Flow: Rental properties can provide a consistent stream of income through monthly rent payments.Appreciation Potential: Over time, rental properties have the potential to appreciate in value, providing long-term wealth accumulation.Tax Benefits: Rental property owners may benefit from tax deductions on mortgage interest, property taxes, and depreciation.Challenges:Tenant Management: Dealing with tenants, maintenance, and property management can be time-consuming and requires effective management skills.Market Risks: Rental income may be affected by market fluctuations and changes in rental demand.Liquidity: Unlike flipping, rental properties may not offer immediate liquidity, as selling a property can take time and incur transaction costs.Comparing Potential Returns and RisksBoth strategies offer the potential for attractive returns, but they come with different levels of risk.

That seems a bit high to me.

He is just going to demolish the house, as it sits in the way of his project so I can see why he thinks that is a high asking price.

I'm highly unlikely to gift my properties to my children. 

The ones that seem to be meeting with success are targeting Raleigh and Durham properties with a good proximity to something in high demand (airport, university, downtown, hospital ...). 

Go fly high and leave all the nay-sayers behind.

To help you in your search: be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

To answer your questions, I am not naive enough to expect this, but I am naive enough to not know the answer to this question, and ask it in this forum.I do not do this at my job, but that's an apples-to-oranges comparison, as I work a salaried position that affords me a high degree of autonomy and flexibility in deciding when I work and working at irregular hours does not equate to more money for my firm or myself.

We now own a highly desirable duplex with instant equity, cash flow, low money down, and a locked interest rate.