In that situation, I might choose to raise the capital and build the project, or possibly flip it to another developer if I can't raise the funds myself.

Always remember to do the math analysis on the prospective property and try to look at the subject property before you make an offer or at least have a clause that allows you the time (about 15 days) to make a detailed inspection and possibly back out of the deal without a penalty that hurts you.Right after you close get an insurance policy that will protect you if there is a loss.  

Hey guys,Our county just put out the Upset Sale list of houses going up for taxes next month.If I were to reach out to the owners and try to buy their houses NOW, before they go to the auction, is that possible?

Another goal in parallel is also to build a REI portfolio for my family (2 awesome siblings & my parents).I came to join Bigger Pockets in order to learn from seasoned pros, beginners, & everything else in between & possibly even work with some of you in the future.

I'm interested in buying and holding rental properties for long term cash flows, House Hacking the next property I live in, and possibly wholesaling to build investment capital quicker. 

But look at all possible deals.ThanksStephen 

You can buy the 1st property with an FHA loan, but if you can buy a deal, something you may be able to renovate and build up equity, you can possibly refinance to a conventional loan and use the FHA loan all over again.

I've been studying for the past 4 month my Real Estate Sales course and been reading REI books, listening to BP podcasts and gaining as much information as possible.

Is it possible to do dual (simultaneous) closing, whereby I pay the first note and deed the property over to the buyer at the same time?

I definitely want as much money in my pocket as possible, but want them motivated to do a good job.