If you think it needs about $200,000 in repairs you will probably need to be in the house on your A to B agreement for at most, around $80,000 and preferably probably around $50,000.

I'm looking for recommendations for an attorney in Texas (preferably in the Dallas area) who specializes in real estate? 

Roman Stefaniw Most private lenders work off a preferred interest rate and over a short period of time and will require points.

You're correct in saying that it is misleading to say "there are no deals on the MLS" because a deal has a very different meaning to each individual.

I'd prefer to use that as a downpayment to buy another whole investment property out of state.Based on those numbers (which also don't appear to include maintenance, vacancy, capex, property management) you'll be doing all of the work to flip a multi-unit property, and then keep it running with 4 tenants for <7% COCR?

Smaller banks, credit unions, and hard money lenders may have an individual or department that you could contact regarding the REO asset.

For SEP and qualified plans, net earnings from self­employment is your gross income from your trade or business (provided your personal services are a material income­ producing factor) minus allowable business deductions To learn more about self-employment income rules, see the following. https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center

And by a small operator, I am referring to contemplating getting started and researching whether this could be a viable and legally acceptable strategy for an individual looking to do a few deals a year, but potentially exceeding the magic state set number for private sales.

I totally understand that he's likely not going through every e-mail individually. 

But for working on properties, a circular saw, miter saw and a sawzall are the go-to tools.If you're determined to buy one of these, I prefer Bosch over Dewalt.