Taking a page out of the @Brandon Turner playbook and house hacking is a fantastic way to go about it.

Most of the builder in those rural area dont like to build near austin for the same reason as they say "whatever takes us 6 month here it will take us more than a year there, because of the permits and inspections are time consuming near austin" I am hiring a builde, who is  basically  is subcontracting each stage. we are using my finance loan (Interim loan). in this case we might calling him GC. we call them a builder here, and they are definitely not GC for rehab projects those are different, they only build costume and specs homes and commercials. 

That must be a fantastic feeling.Best of luck!!

anyone looking to do a flip in Toronto I have a fantastic opportunity available, looking for local investors

Also as Anthony said, there are some fantastic investors groups such as RIREIG here in RI and Black Diamond REI.  

If you can manage to pull of the 15 year mortgage, I can tell you from my experience that it is fantastic to see that principle chop away every month.

The entire house was reworked and looks fantastic.

Ih, take advantage of the Tools BP offers- they are fantastic!

Wow, fantastic thanks for all the help.

I have the concepts and did try once but had to back out without selling it at the very last minute.There is a fantastic book from BP that will help you as well with some concepts and learning ways to invest with little money: http://get.biggerpockets.com/nomoneydown/