My goal is to gain experience on flipping imperfect properties for top profit.

Flat paint is often chosen because it is less expensive and hides imperfections better.

It merely expresses that the seller is 1) aware that their property is imperfect 2) not willing to nor interested in finagling or negotiating additional terms once in contract.

You have a better (but still imperfect) chance of getting genuine numbers if it's managed by a 3rd party as they could have a reputation to protect but you still won't know for sure.By the way, I'd peg your monthly mortgage payment at either $2,736 or $3,089 depending on if you have a 20 or 25 year amortization with a 5% rate and 75% LTV.  

My imperfect approach: 1.

No, the real estate market is an imperfect market.

The owner said the cracks were because he didn't lay underlayment because he thought the subfloor would be fine, but the imperfections in the subfloor caused the tile to crack.

Imperfect ACTION, is better than Perfect INACTION.  

Staging helps buyers envision living in the house, especially a small or odd floor plan and a furnished house camouflages imperfections.

In an imperfect world, there will always need to be an option for homeowners with underwater assets.