Newbie Live in Flipping in Los Angeles needs help

I'm looking for some advice about a live in flip located in the Highland Park area of Los Angeles. I found a great home that we are considering purchasing. We need to make a cash offer this week and I'd love to get some answers from someone who's done this before and make sure I'm not making newbie mistakes... THANKS in advance if you have any advice. If possible, I'd love to find someone willing to have a phone who has experience in the LA area.