When funding is plentiful and flips are rare, the competition will be heavy and experienced flippers with teams will take smaller returns just to keep their guys working, which means inexperienced 1-man crews will be shut out of the market.

Like others have said, 40k rehab budget on a property worth 55k would be considered heavy rehab.

I did this 10 years ago and pursued a heavy renovation with contractor/tenant.

48221 is investor heavy.

Like aircraft checklists and vehicle operators manuals (the -10s), one can benefit from extensive research, trial and error, and deliberate improvement principles gained by the many that have gone the path before. 

I've been looking to branch out to a few different areas on the East Coast that would necessitate a property manager but Texas and its heavy investment in business, including the major tech investments in the works around Sherman are very intriguing.

They do all of the heavy lifting.

This will lower interest costs and free up future cash flow for reinvestment or reserves.Tax Planning: Work with a CPA to mitigate tax impacts from principal-heavy payments and potential gains.

Other 70% liquid vehicle like equities, etc.You got to know what you're working with though and be honest with yourself.

In 5 years what will that vehicle be worth.