Flipping, Rehabbing, and the potential to add a unit

[Eugene Angeloni]

When looking for a flip-to-rent or flip-to-sell what are the key aspects to focus on as I walk through the property?

I understand some of the basics such as:
# of Beds, baths, and condition of both. Closets and there size.

Also understand I should look for water damage and structure damage. But I am new to this and really don't know what to look for in terms of structure damage or other types of damage that tend to suggest other damage that my not be noticeable until demolition day.

Also is it a smart idea to search for properties that can be transformed into more units than originally designed for? Or will I just find myself tied up in paperwork bleeding money as the house sits idle.

For example a single family home that with some creative designing can be turned into a multifamily home or a duplex with the size capability to transform into a triplex.

Thanks BP