I foresee our markets continuing to move forward, at a gradual and safe pace, but I doubt we will ever see the massive spike that the coasts have, for better or worse. 

@Jay Khoury did you ever find a deal in the area?

I agree with @J Scott and in 25+ years have never consider doing this for many reasons including:-I know that EVERY flip ever has made tons of money right? 

Most REO sellers will not turn on or allow water to be turned on, or allow repairs for appraisals or before closing, most secondary market loans require all utilities to be on at time of appraisal, minimum 5 years or more roof life left, no holes in walls or flooring larger than a quarter,  or significantly soiled flooring, walls, ect. 

At the same time if you are investing in larger or more expensive properties you might open an LLC for each one.

When presenting ensure the topics address larger apartment owners issues but come from your own direct experience.

Larger houses can be a bit more difficult as a missed item can balloon quickly into a large overage. 

Did you ever serve them a legal notice and for what lease violation? 

Note: While the cashflow is great in a too big house and you have less kitchens/furnaces to pay for, you won’t be able to use the potential rental income to qualify for the initial loan (buying a larger property).

I would be careful of buying yourself cashflow, aka, placing a larger down payment, as well as betting on appreciation.