Even if you invested years later, there is still PLENTY of meat on the bone for a healthy profit. 

I can tell you one thing...most investors don't have deals w/ enough meat on the bones to pay for a contractor capable of staffing a solid takeoff estimator.   

If that is the case, they need more meat on the bone than 10% unless you have someone that rips out of state buyers by selling to them at 10-20k over market price.

If theres not enough meat on the bone for that to happen then I was thinking sandwich lease option.

It is the bare bones book on the concepts.   

Flipping is great just make sure that your first deal has enough meat on the bone to allow for some newbie mistakes.

Probably seems stupid that I would choose to move forward with this mess, but I had been beat up so bad with rejected offers and watching the list prices for SFR's continue to climb (what seemed to be ~10% in just 6 weeks) that I figured if I had jumped back into the hunt I could end up looking for a different SFR for as long as it takes me to bring this one up to code-- I'd probably pay more for that house due to appreciation than I'd have to pay to re-open any permits or I may be priced out (of the ones with enough meat on the bone for me) altogether.The original structure was built in 2003 (previous owners-- not the sellers to me). 

I lost count of how many investors have come back to me burned to the bone by an inexperience realtor. !

I have a client who's done very well with a small detached casita with a studio layout, bare bones kitchenette, and a full size bathroom (all around 200 sqft).

@Jonathan GreeneI don’t have a bone in this bro vs pro debate.