@Grant BoyntonI'd shy from building new for a couple reasons: This is an area where volume and capabilities matter with regards to a brand, ability to sell your product, ability to negotiate favorable terms for sub contractors etc. 

This would be flip, with an ARV of 225k ...... estimated rehab 50k, missing out on +50k profit ..... so its a good winner, want to fight this out.Any advice, stories of this happening?    

Your tenants will get a kick out of it and not be offended as long as you give them this technical information about camera sensors.Finally, the human eye and brain are still much more advanced and capable than any lenses and cameras.

Thanks for the feedback, I was looking into an older duplex property that needs some renovations in order to be capable of attracting a more upscale client base.  

I am regularly adjusting what the workers are doing because they clearly are not fully capable.

@Jordan Moorhead He's absolutely capable, just like I'm capable of being a body builder.

It would have removed previous owners responsibilities and absolve them from any legal fights.

As a newbie, learn on these, and live to fight another day? 

When partnerships end, the best ones know exactly how it will go down...the rest fight and pay attorneys in the battle. 

As far as the water heater I would get in contact with my handyman who is more than capable of taking care of that issue, just frees up my time more not that I have a lot of free time either.