Lead paint may be more than you want to tackle for a first project. 

There is so much to learn, so I'd fear that you would be trying to tackle too much if you don't focus on one specific area.

The first home I'm tackling already has real wood floors in the dining/kitchen, and I am definitely need to go with carpet in the rest without it looking really out of place from other homes in the area.

You come to the table with cash, they come to table with the deal and all of the work required to tackle and maintain the deal, and you work out a split where you have an ownership stake.

@Jeff Lee  not sure if you want to tackle the project yourself but you can usually rent a stump grinder and get rid of the stump yourself for much less than what the tree company is going to charge you.

;)I have been following this thread for awhile and i am just amazed that someone that's not ALREADY a full time builder would try to tackle a project of this magnitute.

Specifically I'm looking for contractors that have a work force that can tackle multiple projects at once, are motivated by repeat business, and will give me solid consistent pricing (in return for the volume of work I give them).

In those situation, I would suggest you fix it, and get an air test done by a home inspector before listing the house.I would not be afraid of tackling mold. 

In any case, it would be wise to tackle this up-front like Michael did rather than assume you're good.

More lessons to be had but we are ready to tackle it on.