Got the termite treatment done with some help, carpets removed, bathroom demoed, measured for windows and doors, working on putting a complete bid package together for Home Depot (If you spend more than $1500, you can request them to give you a bid price which is usually a bit cheaper). 

Also, take photos of the house, measure the square footage,and send this  to all the guys interested in the job. 

See a cap rate is NOT a return but the measure of what a market is paying for NOI.

This next time around I want to be more measured in my approach and do investing in a systematic and reasoned approach.

I'm finding the things I'm learning are helpful beyond measure as well.

The difference perhaps is that I am a businessman and I realize the costs of being compliant and legal are worth the cost when measured against the potential risks as opposed to pretending the risk does not exist.

I would write that out as a specific and measurable goal. 

Also remember, there is no reward from not obtaining risk, so don't be scared to take MEASURABLE risk.

Perhaps looking at the % of houses that are sold and then re-sold within the same year, at a higher price, to measure the level of flip activity? 

This FHA 90 day flip rule certainly causes confusion.I am getting conflicting info of which date to go by as far as the acquisition date to use for this time measurement.