There is obviously a risk component here and cash flows need to be managed, but prepaying FNMA mortgages is a terrible use of money.  

My first question was do you have all your components in place; i.e. your contractor, your ARV, Rehab budget, materials?

This includes understanding how to factor in any costs related to the components of the plumbing system which are not easily visable during a walk through, including, but not limited to, underground and outside components of the plumbing system.

You wouldn't want little rents and almost no appreciation because the cycle has peaked and now you have to hold for a very long time to cycle upwards again for equity growth.Cash flow is just one component.

But I would not use full comp on the stick build home.

Majority of the time in a commercial flip, there is an value add component, ie, u buy a vacant building, put in a tenant, then sell as an investment based off income.

Home warranties often cover very specific items/components (HVAC, hot water heater, etc), not structural, built-in systems (wiring/plumbing/ductwork) or aesthetic items. 

@Rick Santos is usually have an attorney put them together, but I tell them all of the components that I want.

Take the time to learn how plumbing works, how an electrical system works, what components go into a roof etc.  

What are the components you want to be hands on with?