If you were to live in the house for 2 yrs...

[Jared S.]

So if you were house shopping, looking for a good deal but also a home to live in and flip after a year or two, what would you look for specifically?   

A fixer upper in the nicest neighborhood you can find?  I always look at what the other homes cost per sq ft compared to the one I'm looking at.  I also keep in mind of course if it's in a safe area with decent to better schools.  So basically I look for something in the high 100s to low 200s that I can spruce up in an area where homes are going for 25-35k more. Is this good to do?

What else should I look for?  What's the best thing to look for?  I don't want to buy the nicest house in the area I can afford, I know that.  Homes in my area generally are 115 to 140$ per sq ft.  Ideally I'm looking for homes under $100.  If this doesn't work I am looking into building my own home.  Thanks for any input you may have.