Second: Any specific strategies that make the process more efficient?

Margins in hot areas like Houston have narrowed considerably, most fix and flippers believe that prices will rise 5-10% during the rehab period.

In your situation you may want to shop around, or give it some time and look at your results over a longer period of time.

You might have to wait a certain time period from purchase to cash-out refi, so it would help to know their process before you start.

Both lists can be a good source of leads; but as always, consistent mailing over a long period of time and quality of letters and post cards are important.

He didn't even know to insert the periods.

If you intend to buy and hold for a shorter period of time (say 5 years or less) and you are buying for the appreciation play, the new build could be the better way to go (but not always of course).

Most sales are not that distressed, most properties were exposed to the market at different times or for sufficient periods, there is a bit of pride and ego involved with folks patting themselves on the back closing a deal, usually, what they paid is or is pretty close to what its really worth at that time.

My main concern is how can we achieve our goal in a timely manner while being the most tax efficient?

I put an option period in my contracts on properties where I don't have a buyer for yet.