Depending on where out of state the property is, distance has some effect on how well a property can be managed. 

So, if it's 6 years old it no longer has such a big effect.

Or does it only take effect on new properties?

Need an address though!

@Kurt Granroth, the investment prospectus from most sponsors don’t address the tax issues because everybody’s tax situation is different, and most sponsors aren’t tax experts that are qualified to give tax advice.

Before you get into anything else, these number effect your cash flow most.  

With this in mind, what are some effective ways of finding flippable houses that aren't exactly gut jobs?

It was about how a major operational restructuring would effect the forward operation and our discomfort with the risks.

I don't have it on me right now but it says something to the effect of if they do purchase the house they will send me a birddogging fee of $500 (or whatever amount you agree to with with).As a seller, I'd be happy to pay that for a deal. 

I've thought about just searching the deceased name on the county assessors website hoping to pull an address and then sending a letter to the executor.