By adding an additional bathroom to the master and upgrading the existing bathroom, interior/exterior paint, upgrading the landscaping, the property should sell for more. 

Its reason for existence has, if not disappeared, greatly diminished.  

What I see out in the mid west is that land has no value because you can buy existing houses all over the place for less than replacement value... but I don't know this area of course and maybe there is a market for new builds.

If I am fortunate enough for my bid to hold, then I'll want to sell my existing residence.  

Most residential development in middle class neighborhoods has been “out of scale”, disturbing existing communities.

Flipping is one way (getting an option contract and selling it to a rehabber).For low equity deals, consider:Buying on Sub2 or a wrap and renting, or lease optioning.Do a lease option assignment and assign.Like @Will Barnard said, get an attitude of solving problems for sellers and "don't be a one trick pony".If your marketing to home sellers gave a range of issues, then you could give a terms offer with a low all cash offer.Think of your first priority is finding a motivated seller, and asking the motivated seller questions like...Asking About The Existing Financing: Do you own the house free and clear?

@Jerry Poon it refers to purchasing the property subject to the existing mortgage

Most of what I am seeing is off-market or pre-mls properties, but everything still seems very over-priced or completely picked over.Do wholesalers exist in commercial like they do in residential?

Homepath financing no longer exists, as of yesterday.  

I have been investing in my financial education over the years (2003) via every "GURU" course that exist (LOL). from Carlton Sheets to Russ Dalbey , to eventually Armando Montallango, all of which I worked my butt off to no avail, so laziness was not my problem.