I've personally done this and the biggest thing you have to consider is finding a house that is in bad enough condition to get a deal, but good enough condition to be able to not only get a loan but live in it as well.

Are the basics like parking good enough to justify the higher rent. 

If you negotiate a good enough deal that pays you then complete the transaction with the investor to buy the house you have under contract.

@Labraysha Brickhouse You can use Zillow to find comps for back of napkin calculations, but it will be the least indicative of market value as it won't have complete data, but is often good enough as long as you don't use the Zestimate.  

@Derek Lacy @Jason Bott Good enough.

I also can't find a house at a good enough price for me to try and flip.

We've got a banker that's willing to lend to 0% LTV and 100% of construction costs, IF the development prospect is good enough.

I have always heard that if the deal is good enough, then there will be no issues in finding the money. 

It all sounds good enough - and if it were in located in my area I could give you an opinion.

I guess it still wasn't good enough and I should do a better job next time and you're helping me doing just that.