I started exploring foreclosure auctions for the past year, found a rare opportunity for a house similar to what I'm renting now that needs minimal work, and am in the process of financing for purchase price of $413,000 (mortgage would be less than rent at $1800/month but could flip for $625,000).Because our market is so high and these come by once or twice a year (so many investors here eating up the foreclosures), would you 1. flip right away 2. rent 6 months then refinance and keep 3. rent 1 year rental then sell or 4. live-in flip 2 years? 

The process goes as such. 

@Hadar Orkibi , we are still in the process of deciding our criteria doing our market research.

We are in the process of looking in the Kissimmee area in FL.

I just got one of my clients a duplex under contract and in the process was able to connect with the listing agent.

I find myself texting/calling the RE agents to find out, which is annoyingly slow in the process of analyzing if a deal makes sense or not.

I'm still in the process of closing. 

I am still in the process of understanding how it works but I want to start investing in cash-flow positive properties.

They do not alter that process even if a market is overheated.

My thought process then is to create an LLC for the property, open a bank account for the LLC where rent will be collected and any expenses(repairs & renovations etc) will come out of.I understand that no one will directly give me legal advice on here, but just in general any feedback would be greatly appreciated!