Regulate less of that degree with emphasis in real estate I felt more comfortable in the construction business.

Grew up in a commercial construction family business in ND.

I would like to do at least a gut out rehab, or something that will cost 100-150k in construction cost to create enough sweat equity and bring down ARV and bring up profit.My question is, how easy can you sell a property when it came from REO or have foundation issues?

Basements are never included in the insurance rebuild cost.Regarding the premium question, it depends on the age and construction of the building.  

I am from Chicago, I have a construction company which 90% of our work is for investors so its still into the flipping and rental business.

Does it start when land was acquired or once the house is constructed?

For your first one, you're going to want something relatively turnkey unless your background has been in construction or your are a glutton for punishment and want to jump right in and learn a lot of lessons all at once. 

I am a construction guy in Hawaii and have been looking around for deals just like you.

The community is still being constructed and is expected to be complete by May 2016, so there is uncertainty about the neighborhood.

Furthermore, you and disqualified parties cannot live in or use any of these properties, nor can you do any of the maintenance, upkeep or construction work on them.