Lemus What you have described in the OP is a recipe for failure. 

I know the market in general is pretty tough right now but are there any areas you might recommend just off the top of your head for doing a sound deal similar to one I described (or a purchase price below $100K with the potential for at least $15K profit after rehab and all other expenses)?

Scott describing that one of his favorite markets are military towns.

Normally I describe house hacking as being on a teeter totter.

Their implementations were similar to what I’m describing- deploying full PEX systems across most/ all of the building.  

The ceilings were all popcorn & every wall was exactly what you are describing.

It would have to be a very unrealistic scenario described by @Brian Eastman when the class is specific to private lending only, and you don't do any real estate investing outside of your 401k, which you already stated that you do. 

For a business like you described, you are buying a part time job.

Assuming yours is roughly equivalent to what's in demand in the area I'm sure you won't have trouble renting in an area like the one you're describing.

You are being reasonable if what you describe is accurate.