Here's where I'm confused: I've seen people saying they perform a title search and even pay a title company PRIOR to bidding.

It also salvages various aspects of prior building codes versus a new build. 

Easy short sale transactions generally compared to others when it comes to processing, but tougher to get good deals from an investor perspective due to HUD guidelines.

It is the comparable to homeowner's insurance when there is no house on the property and it is being built.Absolutely you should be "cautious" in hiring day laborers.

I will go to the building department. regarding the property I am looking at what would my bank do prior to closing a loan secured by the property to make sure there was no contamination in the soil?

Then I'm using the 1% rule as a very basic guideline as I compare listing price to potential rent. 

Obviously, they dont want to lose money, and wont lend on a bad deal, so I do my analysis, get my numbers, and then compare it to theirs after they do their analysis.

I previously owned a fitness studio for 3 years and worked at a steel mill 7 years prior.

You need to get real comparables and find out what the house is actually worth.

However, you may need to put in work to sell yourself to an equity partner, they will need to see you are a committed, knowledgeable, financially stable and trustworthy person prior to entering into a business agreement.