It seems like everyone looks for different qualities and characteristics in potential flip properties.

-Tenants with subsidized government assistance (section 8)-A rental control ordinance, which limits rates or rental increases.We will purchase commercial properties that have the following value added characteristics:-Low rental rates compared to similar units in the area-Poor property cosmetics ( exterior shows pealing, overgrown shrubbery, weeds in the curbs & sidewalks, a dirty and poorly lit entryway and halls , overflowing trash receptacles, & a poorly lit worn out laundry room)-Light fixtures with incandescent light bulbs that are paid for by the landlord.

That is also an innate characteristic and why they are considered more risky even at origination.There does seem to be a relatively common occurrence of investors buying second liens and not pursuing foreclosure which sometimes is warranted and other times not.  

The main criteria for whether or not you use Section 8 should be the location of your property and the economic characteristics of the surrounding area. as an example, I wouldn't think of ever using Section 8 for some of my properties located in prime Los Angeles areas.

Richmond as well, etc.It'd be nice to get a place that has these characteristics:$350,000 - $400,000Stand-alone home (not a townhouse)4-5 bed, 2-3 bathStrong renters market~30 minutes by car to DCGood garage (2 cars wide & driveway)Safe neighborhoodGood job market & public servicesI'm not sure where to look and don't have an agent.

and "Characteristics of a Good Contractor"

Jacksonville - Best Overall Market In NCJacksonville has been recognized as the best market in NC overall due to characteristics that make Jacksonville unique, this expressly includes Camp Lejune, the Marine Base.

Let's get to it:Financing Option: VA Loan (owner occupy)Property Characteristics: Both 3 bed - 1 BathTop-Bottom Duplex/(Unit 1) 1200+ sqft/(Unit 2) 1300+ sqft/Detached Garage 240 sqft/ Two washers/two dryers/electric seperately metered/ 2 water heaters (like new)/WATER NOT SEPERATELY METERED)/2 HVACS (like new),carpet (like new), fresh paint, roof is like newNeighborhood: B-/C+Asking Price: $224,900Assessment: $215,100Taxes: $1.15 per every $100 (so about $2,500Insurance quote: $140-$150Section 8 max for thsee unit approx. $1,200Rentometer.com said average rents for the area for 3 - 1 is $1100.

Market and market characteristics are very important, but I think the way a team you choose performs daily is much more important and should be high on your list.

Cordell M. following up on the posts above, the characteristics of the property will determine which company is a good fit.