I was a Realtor in FL about 10 years ago but only got involved to start investing.

I've flipped some houses in years past, but I'm very involved with running a private school currently and not interested in rehab.

What type of real estate is your broker involved in?

Anyway, in getting the family involved or aware, make sure you don't make it appear that you need the family's approval for the deal, that will insult the owner as not being in charge of his own affairs.Best approach is to ask about family, what the kids do now, just be friendly and ask what they think of him selling the place.

I bet any of us here in BP can run circles around these guys with the knowledge we possess.

I can tell you it is much more involved than you may think.

Make a reasonable agreement and belly up to the bar or don't get involved in the first place. :)

You need a solid plan that everyone sticks to and make sure you know your partners well if they are going to be involved in the deal and not just silent investors.

I really would liked to be involved in flipping but now that I can't get a loan I am not sure where to go from here...

It depends on your goals and how actively involved you would like to be with your investments.