That $250 is better than an inspection fee paid to an inspector. 

If you "flip" homes repeatedly as a business, the IRS might designate you a "developer" rather than an investor, in which case your properties will not be considered capital assets.

Frequently they are the ones that the Counties end up with.When you exhaust that list looking on GIS systems with lot lines show odd unbuilt parcels.

Some of the deal structures on these are overly complicated and involve way too many people, more like a house of cards than an investment strategy.  

The only tools I could think of are google and facebook groups however I don't think either one is exhaustive or efficient.

You’re speaking more like an accountant than an acquisitions guy.

So buying one home make you smarter and more qualified than an agent that has sold 50/100/200 homes and still rents?

If you decide to do that it is much easier to get the HELOC on you personal house than an investment property, another reason to set it up even if you don't "need" the cash.

@Russell Brazil,I understand your point about DTI, but I was thinking more about the fact that we would exhaust a significant part of our savings to buy the multi-unit first and would likely have to save extensively for a couple of years in addition to what we might cash flow from the multi-unit to have enough to buy our single-family home next.

@David Falsdefinitely do not exhaust your savings.