Seeking advice.
I've been interested in real estate investment for quite some time now. I've been doing a lot of research lately on how to start with little to no money and everything seems to point to wholesaling but I'm not really interested in that. I don't have a lot of experience however I did just purchase a house that my wife and I bought with a FHA 203k loan. It was a complete renovation probate property that had been abandoned for 5 years. Throughout the renovation process I have learned a lot. I came out of the deal with 15k in equity but in the process I ran into a lot of unforseen issues that resulted in me maxing out my credit cards just to obtain the occupancy permit and to start prepping the house for resale. We're currently living in the house and plan to stay at least a few years. I recently went to a 3 day Fortune Builders seminar and learned a tremendous amount that I wish I could have applied before I bought the house. Knowing what I know now I feel very comfortable buying another property to flip. I've reached out to friends and family to see if anyone is interested in putting up the capital to split a 50/50 profit while I do all the work. My mother is interested however she can only put up about 50k which would probably cover the cost of a renovation but not the property itself. I'm curious what more seasoned investors would do in this situation? My ultimate goal here is to replace my current income so I can quit my job and do investing full time. Thoughts?