Once the market is saturated and the returns become too low for some investors (like us) to invest in we can transition to a new market.

Marketplace inefficiencies exist for all three approaches.

It becomes hard to prove to the IRS what is inventory and what isn't.If there is more than one shareholder of an LLC it is taxed as a partnership UNLESS you are in a community property state.You need to understand that an LLC DOES NOT EXIST as far as the IRS is concerned: http://www.biggerpockets.com/forums/12/topics/7605...You can flip in a C-corp or s-corp and then distribute the income or even loan from there.Personal Holding Company Tax (PHC Tax) is a 20% tax on a corporation that holds passive based income that GROSSES more than 60% of the income.C-corps have NO CAPITAL GAIN RATES.Here is a thread on Real Estate in a C-corp and trying to get it out: http://www.biggerpockets.com/forums/51/topics/1057...

Prior to this I worked in the construction industry with experience in: roofing, siding, framing, tile, wood flooring, asphalt repair, cement work, & granite counter tops.

I'd definitely use the home warranty as much as possible, but also contact the closing attorney to see if you have any recourse if you've found so many things wrong, especially if the sellers actually covered up existing problems in order to flip it without properly fixing it.  

You can use this to quickly sort leads, but you still need to base your offers primarily off of the seller's financials and upside available.There exist deals that have been acquired at negative CAP rates that were home run deals.

I found the support (which they bragged about) to be nearly non-existent.  

If the latter, is it in addition to any existing origination fees?  

Fannie Mae discontinued HomePath Mortgage and HomePath Renovation Mortgage 2 years ago -- those financing products no longer exist.

This drives your profits AND risk up, as then tenant is responsible for all maintenance.If you buy from the owner MAKE SURE he/she/they assign the existing lease, rents and deposits to you as a condition of the sale.