Open to ocean view, close to tourist areas by transit, farm ground or ranch land.  

I'd target areas near colleges or transit hubs for affordable properties, and I’d look into financing options like FHA loans or creative financing to make the most of my capital.

Also, don't forget that, if you pay taxes, it means you're making a profit.2.

If you are waiting on a repairman for those as well general repairs its going to hurt your profit and your appearance. 

The borrower must have a good deal from which they will make a fair profit.

For example, several of our clients last year did not have a primary intention of profitability. 

For example if you think the house is worth 200K fixed up you need to pay 100K to afford the hard money loan and rehab budget and still have a profit.

(Is there any “profit” left?) 

This of course can be scaled up as well for better profits, if you have a 1 acre lot, you can probably fit 2 buildings with 4 units each (depending on zoning requirements), or 4 buildings on 2 acres and so on.

Too many are locking up properties at retail prices and tacking on outrageous assignment fees, leaving no room for investors to profit.