Also the better you (or a trusted contractor) can estimate repair costs that are conducive to the market, the easier it is to reverse engineer the number and determine the adequate purchase price to yield your desired profit. 

I explain why more here if you're interested: https://www.biggerpockets.com/renewsblog/2016/01/26/vast-majority-investors-stay-fard-class-properties/

But the location (being on a major road surrounded by apartments) is not ideal for our children.  

The majority of the credit score hit comes because most people have 10-20 monthly payments "over 90 days late", which is where the real credit score damage comes from.

If something goes wrong, your profit is gone ....and you could end up losing.

BiggerPockets is great community where majority of us keep on learning in every day through different source of BP.  

Bragg, Fayetteville, NC area,Any one ever purchased a home with no money from their pockets and flipped it then made a profit?

As you start taking on more demanding construction projects, general contractors will carry out the majority of your work.

Currently, I am looking to make connections with other fix and flip investors on this site, as well as, learn all the ways that real estate can be a profitable entity.  

I bought pretty much turnkey; I probably overpaid but idc (I shouldnt have major capex for a long time) I'm cash flowing around $150 /door.I know many people who are having problems with some tenants so Screen carefully and you should be okay.