Also sanding and finishing floors is a special skill, would not hire out to someone who doesn't specialize in it , talking from experience here.

Home Depot offers the Philips 8.5-watt (60-watt Equivalent) Soft White LED Light Bulb 2-Pack for $4.97

Sure you're paying less to get in but do you have the skills needed to make the same profit that you could make on an 8% cap rate property? 

Handyman magazine is handy for the beginner and pro, other home improvement publications and sites are full of techniques, but actual skills take practice to master.You can get an idea of material costs at the supplier, their ads usually have common materials.

Here are the skills I possess.

I like to use 4-gauge or 2-gauge welder's cabling as it remains soft/flexible in cold weather.

Even if you don't have the skills, you can learn them.  

I also have a soft spot (pun intended) for BBQ turkey in any traditional BBQ style and for a good bowl of beef Pho. 

I wouldn't stop doing REI because of this, you have to put something in place to ensure payments are made on time, I would accept no late payments without an interest penalty that way u won't get messed with, if ur soft they will pay u last on the list.

I understand the idea of motivated sellers and their need to sell at what anyone with some simple math skills can see as a good deal.