I.e. if you are great with numbers and an excel wizard, you could likely seek out a "deal" guy, who loves networking and hunting for properties, but doesn't really understand how to translate operations into financial models.

Wholesaling skills translate well with both buy and hold/fix and flips. 

If the plan is to alter the footprint of the home your site plan will need 2' elevation contours, trees and waterways marked.

You don't know the law, you don't know how to handle difficult tenants, and you aren't local to work on it.This is what Ohio law says: “The tenant shall not unreasonably withhold consent for the landlord to enter into the dwelling unit in order to inspect the premises, make ordinary, necessary, or agreed repairs, decorations, alterations, or improvements, deliver parcels that are too large for the tenant’s mail facilities, supply necessary or agreed services, or exhibit the dwelling unit to prospective or actual purchasers, mortgagees, tenants, workmen, or contractors.”I would give the tenant a short, direct warning that they have 72 hours to coordinate with the vendor and set a schedule for repairs.

But even with that sometimes good people run into bad situations which alters their ability to pay.

You may take the risk and negotiate the new value after alterations.  

It's all about balance and attention to detail, from the big-ticket items like kitchens and bathrooms to the smaller aspects like layout and functionality.Your example from "Flip or Flop" is spot on—what works in one market doesn't necessarily translate to another, and understanding those nuances is key.

There is a lot to be translated from general professional experiences to real estate, including finding great people.

@Enrique Roth It will certainly appeal to more renters, but hard do know what that translates to in higher monthly rent. 

What that 20% translates to in dollars really depends on where you are buying.