On average only 7% actually sell so the chances of you getting a better deal at the sale is pretty rough and its risky.

For a definitive answer, I’ll defer to @Chance Delome

Numbers have never been a strong point for me and I would like to improve this starting now.  

Maybe in a nutshell the typical process, chances of actually winning a bid?

I focus on ones that have been fixed and flipped, seeing what other investors haven done on there reno and get a chance to talk with realtors who work with investors and pick their brains about the market and different neighborhoods. 

You don't need inspections or appraisals with cash... and there's no chance of the loan falling through for something on the buyers side.When you start going the condo route, in addition to what you said owner occupancy can also play a part in needing cash.

It gives them the chance to find out if it is just too much of a hassle (you can overcome that) or if they want to die in the house (in which case you say thanks for your time)Make sure they have the information to answer questions and overcoming objections.

The strategy has been very good to me, and I'm a fan.Separate your construction costs into soft, horizontal and vertical components - soft for city fees, professional services , and holding/financing costs ... horizontal for any site prep, public improvements, and underground work ... vertical for foundation and everything on top of it. 

*Newsflash* many people invest to set their future generations up for success.Being an "investor" doesn't entitle you to anyone's property and doesn't make them an "idiot" just because they wont sell to you to improve your portfolio. 

Phase1 could be critical, if there is a chance that there has been environmental contamination.