Acquire outdated, fixer upper property North of Dallas as my primary residence using FHA 203K loan.a. 

Hello still experimenting with this process of wholesaling and trying to find houses that would be a good fit for a local investor, so with that in mind I'm trying to find flipper uppers that will generate at least a 15% return for a flipper.

@Ryan MooreWe have used similar conditions in purchase offers where we have suspected the Vendor of being less than forthright and housing warm bodies simply to be able to advertise the property as being fully occupied.  

Or, a duplex or triplex if you can't qualify for the price of a four-unit property.And yes, you want a 203K loan because you want the (bargain) discount that you should be getting with any fixer-upper. ie.

Hello From Upper Bucks, PA! 

That alone puts you in the upper echelon.

Perhaps researching to see if there are a lot of fixer uppers on the market in that area. 

I am finding 1.5% rules all day long in class B neighborhoods, but if you want to push into the upper 1% territory, you will mostly likely be B- or C+ in my experience. 

After 7 years, I decided to stop doing fixer upper projects (20k each fix), I'm taking a break for a few years and waiting for the market to cool down and then hopefully buy 5-10 brand new units at once from a builder.

But then again,  a car that has been in a wreck is forever tainted,  regardless of how perfect and documented the body work was to repair it.