No cash flow real estate investing can be frustrating to newbies... you are doing all the work, and not seeing any 'pay' for the effort except on paper where you property is worth more.  

If you manage properties, what do you typically see? 

I've flipped property worth over 1.5 million all the way down to 50,000.

Pleasant Hill may be a subdivision worth looking into.

You can keep trying as it is possible to get different results depending on who you talk to, however I do not think it is worth the energy. 

Most two story homes don't have a second staircase in case of a fire, and you will have to weigh whether or not it is worth "doing it right".

I live in a smaller and older suburb of Fort Worth where I am less likely to get tracked down (I see evidence of work on properties all around me that are clearly not permitted or up to code), but also know that the specs on the house will change with the appraisal district once I get the property refinanced. 

It is not typical for owners to collect their gross funds and receive a bill for your fees.

Once complete, the investor has a property that is worth more than the purchase price + rehab costs.We've got more "skin" in the process than an RE agent as we have to rehab to get a tenant and than continue to manage the property and tenant to cashflow for the investor.This model seems to be growing in popularity with investors versus traditional turnkey.

It does feel like its worth it to check these items off the list now and not have them as line items to save for replacement costs.