Here's a partial solution and would like to get some feedback.I would like to start targeting houses I come across on the MLS that fit my criteria.Once I find the houses,send a letter directly to the owners with a cash offer low enough in my mind that should cover most if not all repairs,along with the expected holding costs and final numbers as they pertain to a good deal.The letter would emphasize a fast closing with the inspection as the only contingency.Obviously,I would do as much due diligence before hand on home styles I am most comfortable and familiar with.If the seller is interested in my low offer,he would have the real estate agent call me and set up a showing.Once I see the house with a contractor,at that point I can state we'll go into contract or pass.

It's guru spiel, it's the style and under the radar marketing I don't care for.

Thinking 1950's buy the style since it matches my late grandfathers place.My first thought is that I need an engineer to come visit to see if the building is salvageable.Lots are going from 18,000 to 32,000 in this neighborhoodComps for is area come back at the followingSqft $95.50Average selling price $62,500This is the UGLIEST cabin in the area.Here is the kickerMost of the houses near by are actually about 1800 plus sqft and comp for $210,000It will need the following:complete gut and remodel ($45,000)At least two dumpsters ($1000)The garage structure may not be stable?

I want to get into real estate because it seems the most secure and beneficial way to help my family and lead the life style I want. 

@Karen Margrave John has committed to do a J Scott-style blow by blow of two of our development projects.  

Personal Property Strategy- we use the transient life style to our advantage by buying future rental as our current residents.

I've had success with Laminate Flooring on rehabs under 150k, primarily in living areas, etc, but not in kitchen/baths, as laminate is worthless when it gets wet.I use Floor n Decor, they have plenty of styles of 12mm laminate under $1.50 sq ftA great installer makes a big difference too.

The internal rate of return (IRR) is a rate of return used in capital budgeting to measure and compare the profitability of investments.The term internal refers to the fact that its calculation does not incorporate environmental factors (e.g., the interest rate or inflation).

Joe,I agree in large part but I think it is a matter of style of management, I do not think everyone is as far apart as it might seem. 

That looks like it was built in the 70's not sure what architectural style it would be, may be a modern or contremporary.