The minimum requirements for FHA are: Safety: The home should protect the health and safety of the occupants.Security: The home should protect the security of the property.Soundness: The property should not have physical deficiencies or conditions affecting its structural integrity.I would assume the bank wouldn't loan to you because the floors are unsafe and may lack structural integrity. 

And if you're very targeted in what you skip trace and prioritize your efforts, you can do fewer deals, but make as much money because they'll be more profitable.  

The risk of losing money in a trust deed investment is mitigated by a built in “margin of safety,” because the investment is secured by REAL property.

You can enter a unit with no posted notice if it is a safety concern to the apartment building.  

He always sends out a forum reminder a few days prior.  It's

- Which city to consider, assuming a budget of approx $150k, and prioritizing cash flow over capital gains - neighborhoods to begin researching within each city given the aboveGiven the weakness of our local currency, I'm looking for strong cash flow and a smaller unit in a lower price range to start me off while I build up some $ reserves.Thanks very much for your time!

If you do get your power from an actual power company and the city is saying no, it is because of a safety issue, at which an electrician is able to fix that too.

Power was still on but power company came out and shut it off for safety reasons (live wire near gas line, etc).

I'll definitely prioritize my career over my investments for now.Another follow up question: What is the benefit of living in a cashflow market vs out of state investing (assuming you don't manage the properties yourself)?

Because it is your first flip, try to run worst-case scenario numbers: 12 months length of the loan: ~$24,000 cost; add a 20% contingency cost overrun to the $65k rehab estimate: ~$78,000 cost. what if the market drops ~10% by the time you list for sale: ARV: ~$346,000.346,000 arv-219,000 acquisition-24,000 financing-78,000 rehab= 25,000 left over (from this amount, subtract settlement costs on the buy & sell side, taxes, LLC registration, insurance, etc)Here's a great tool to get a baseline for a margin of safety for rehabbing: https://www.biggerpockets.com/house-flip-estimation-calculator