This is my focus, and I intend to buy and hold, hopefully house-hacking the first one.I have been working on analyzing properties using the knowledge gained from BP, and am happy to say it's not as hard as I made it out to be prior to starting.  

All I need is someone to help me lookout for the pitfalls while I gain some traction.

What he said about investing for cash flow and not capital gains really resonated for me.

The primary Team members are typically Attornies, real estate Agents CPA's (or accountants), Inspectors, General Contractors, and Handymen.   

The market is going to dictate what the typical percentage of purchase price you can reasonably get per month.

I am a new Realtor in Florida and wondered what would be the best strategy to implement when looking to begin the REI journey outside of being a typical Real Estate agent?

David spoke about cycles and how buying selling high and how he has liquidated his assets several times but what about capital gains tax?

So I'll be marketing as a FSBO on free outlets such as Craisglist and Zillow to save and gain a larger profit.Tell me if I have this right: After I get a buyer, I have the new buyer sign an "assignment of agreement to sell real estate" which state that the new buyer will give the seller the amount that I agreed to pay then and the remainder (listing price - my buying price from seller) would come to me.

If you sell for $125k then there is no gain on which to be taxed.

You will pay less Taxes on the sale due to paying Capital Gains instead of ordinary income tax due to being flipped the same year you bought it.I am not a CPA and will recommend that you seek advise with a professional on that area, but if you flip to rent instead of selling on your first years, you tax bill will literally be almost non existent.Do not let this flip and some appraiser steal your future as an investor, on the next ones, try to invest a lot less on the rehabs and you should be fine!!!!!!!!!!