We have a high end flip going somewhere around there its in Maryland... but its on the market at just under 400k.. and I know we went through a lot of stuff getting permits... even to the point that the inspector did not like the way our refer closed  LOL.. never had that one before.. there is some pretty good flip opps right were you live I have done a half dozen of them in north Sac this year... might be an idea to look closer to home were you can monitor this better.I bet you know understand the feeling of being all the way across the country and kind of in a precarious situation.. especially when it goes wonky.

P&I, PMI, Vacancy, CapEx, Insurance, Taxes and Repair costs)The home seems to be rock solid, beautiful hardwood through out(Had two inspectors check the property out thus far). 

Your primary helpers on your Team are usually Attornies, real estate Agents, CPA's (or accounts), Inspectors, General Contractors, and Handymen.  

I know that there are appraisers, inspectors, and agents, but I feel I need more knowledge first as a baseline to weed out properties that definitely won't work and second to keep those professionals honest and cross check their work.

It also covers questions to ask your inspector - http://www.homeadvisor.com/cost/inspectors-and-appraisers/hire-a-home-inspector/

So my question is: since you don't have this time to waste developing relationships, are you also going to become an appraiser, home inspector, general contractor, accountant, lawyer, title company, landscaper, and lender as well?

The inspector said there was only minor things that need to be fixed (like curvature in the bathroom wall due to moisture hitting it, main door warn out, appliances are really old, tiles are cracked, uneven paint job, moisture in the cabinet below the sink, some electrical units wiring needs to be fixed as the hot is on the right, etc etc), but no major problems. 

The Chamber of Commerce, building inspectors who have been around for a while, city council members with experience, and neighbors can help you with their opinions and statements.Sales and marketing abilities will help you make the right purchases.  

You can include a copy of that loan letter with your offers to give the seller and they will have the idea of your capability.The Chamber of Commerce people can give you an idea of future development in your investment area, city building inspectors that have been around a while, and experienced real estate Agents to give you an idea of what to look out for and current economies.  

Become an agent, appraiser, painter, photographer, wholesaler, inspector, stager... all things that might help keep the ship afloat while at the same time keeping you close to real estate and helping you network as you look for flips.I would also consider looking for joint ventures with experienced flippers.