I like markets with diverse job drivers, and it is always helpful to have major corporations locally. 

Throughout the year I come across situations where people need to sell there home due to a variety or reasons, job loss, income loss, health, divorce, etc.

We do live an hour away from these properties and have W2 jobs.

I've seen plumbers and builders stop hiring because all the "young" people start the job and then don't put in any effort or stop showing up.Figure out what you want to make hourly, then start telling everyone and their brother that you need work, how many hours you are available, etc. 

The loan will be interest only for about 12 months (up to 18-24, but 12 is common) with a balloon due at the end.

Good job!!!

Even if you rent the house for $2,000 a month, you will still lose because of maintenance, vacancies, and the expensive mistakes common with newer investors.You can borrow up to 70% of the equity.

It's just common sense, but not really scalable as a business of its own IMO.   1.)

Typically when people graduate they look for a job and move to the area of the job.

Great job there!