The flippers we personally work with in California have not run into this issue (as far as I'm aware).

The title company will handle clearing the title but won’t manage personal agreements.

Example: If you take out a loan for 7% you would want to make more than 7% to make it worth it, and probably significantly more.

Quote from @Daron Williams: I just invested in a tax deed here in texas it was a beautiful lot right on lake sam rayburn. i have it on the market for sale the only problem is you have to have two lots to build on.. i found the person that owns the lot to the right of me and there willing to possibly sale there lot the only problem is i dont have the money or the credit  to purchase it.

Not worth it if you have to feed the thing.But again, what are your personal goals to investing.

For example, if your house is worth $500,000 and you still owe $200,000 on your home loan, you have $300,000 in equity.

The 5-10 it gets heavier and a lot busier, and 10-15-20 it really is untenable to self-manage especially if this is not you main business like a person buying their own rentals and building it like a small business. 

Also, I am guessing that due to the state of the house, it would not qualify for a conventional loan?

I just set up my vrbo account and still some finer details about planning the communication, cleaning service, maintenance persons, etc…

I’m not convinced it makes a real difference unless a person has a unique setting.