<prompt> Human: Hi everyone,Im a first time long timer! I first started following this sub a few years back and have been able to make huge strides financially, which is why I am posting here today.I am 25 years old and looking to purchase my first home. I moved back in with my parents a year ago after my last lease was up and have been able to save a good deal due to them taking me in! I recently saw that there was a condo in my same town being out on sale for 50k cash only. There are stipulations that require it to be owner occupied but other than that doesnt seem as though there is anything wrong with the property. I have zero real estate knowledge besides what I know from my parents experience owned a multi family and sold it to build our current house. Long story short is it crazy to think about buying this property, flipping and using what is hopefully made to buy a different property and pay of some debts?The condo is in the north east USA in a very nice town, near a school and local transportation etc. other units in condo complex have sold for 250-400k. Ideally I would be able to sell the unit for some where in that range and be able to use that to pay off student loans, and buy a property closer to my work and the city. Here are some of my PF stats: 25 years old current reoccurring expense: 1000month student loans, car, Insurance, gym, phone etc. working in sales and just got promoted to new role made 120000 in 16 75000 in 15 50000 in savings 5000 in company stock program 20000 in 401kSo obviously this would kill my wallet in the very short term. But I work in sales and put all my commissions in savings so could theoretically build up my emergency fund quickly.The ideal goal would be to fix up and flip the house. Use what was earned to pay off the remaining 30k in students loans and for a down payment for a home closer to where I work.Am I crazy to think I can pull this off? Any thoughts or feedback would be great Thanks in advance for your help!  <response>: Is it that place at Northridge? Thats not a normal condo, its a cooperative, everything is different from what you expect. Some of the units are set aside for lower income, you cant buy one of the cheap ones and resell it for 7X what you paid. Or even 2X, they wont allow it. And if you look on realtor.com at actual sold-for prices, the cheap units are selling for 25K to 30K, so the 50K price is probably too high. And did you see the monthly fee of 1265, thats 15,180 a year that you have to pay, live there for 40 months and youre out 50,600. Sorry about that. 