When should I double-close or wholetail a deal?

[Mike Lofton]

Hi BP Community!

(This is my first forum post - super excited!)

I just locked up my first purchase agreement that has substantial potential after a quick rehab...now the question is: what's next? Given the large spread between the ARV and purchase price, should I use private money and double close? With only surface-level knowledge of house flipping, I'm not exactly sure of the nuances and costs that come along with "wholetails" and flips.

Please let me know your thoughts - thanks!

Mike