I can honestly tell you from my short time with them, if your lazy, don't have any communication skills and/or don't take any initiative to get off your butt and do it, the opportunity will pass right on by.

There is also currently a new 4 BR septic being installed, and there is also an in-law apartment downstairs.I estimated repairs at $20,000 by experience I've had in the past doing construction and home improvement and I can also probably do 90% of the work myself unless there are plumbing,electrical, foundation or other major issues beyond my skill set.I used zillow's comp tool to give me an estimate of what the house is worth and zillow says $365,933, which seems a bit crazy to me but who knows.

I have good theoretical knowledge and deal analysis skills, but I lack experience in large deals. 

I have good theoretical knowledge and deal analysis skills, but I lack experience in large deals.

This is the time to build skills that will keep you from wasting that money you're saving.Also, you don't mention what your strategy is, but whether it's flipping or buy and hold, you're likely going to have to deal with renovations/repairs with any property you acquire. 

The  little ones  take more small motor skills.

In addition, I’d recommend going to real estate investment meetings in your area, making friends, and exchanging work for knowledge (or some similar arrangement) so that you can supercharge your skills without taking too much risk (see the BiggerPockets Events page, or google the topic).

I come with a different set of skills and experience, which is still related to what most folks on this site are doing yet it is still different. 

First, most house flippers are skilled at buying well below market value.

@Amadeus Hladun where do you intend to get the renovation funds and do you actually have the skills to estimate correctly and execute a fairly major rehab ??