You don't want to live in the flip project for too long (too long is defined by your market).  

I usually buy huge project houses so the amount of work in not an issue.Would like to hear about your experiences or suggestions. 

Usually if its abandoned it stays that way sadly because no one in these neighborhoods have the motivation to want to see a new home built, the city doesnt fix up the houses often unless they are building more projects.

You can get on there are find some credible contractors in Hampton Roads.I'm an Electrical Contractor based out of Hampton, Virginia and have several contractors I work with if you need help with your projects.

While you are correct, you'll need to have your numbers in check but you will have to have a passion to see each project through to the end. 

I also play with projected expenses to see what the returns look like if expenses come in higher than expected.  

@Paul Sofia, do you do any projects in Cape Coral or Fort Myers?

I think you should work on building your personal investment portfolio which will provide you with immediate benefits, along with using self-directed Solo 401k which will be very powerful tool enabling you to build massive wealth over time.Hope this helps.

Someone who can do an appraisal based on the projected After Market Value.

But are they representing the proper projected expenses to account for the property and location itself?