@Kevin Jones Hey Kevin, I used to do some development and investing and now I am mostly focusing on agency.

You will never factor out all risk and the web will only prepare you so much. 

With regards to flipping, I think competition (as @Ethan Henning hit on) is going to be way more a factor than taxes in the current market environment.  

There has been a lot of development here in the last few years and a lot of tech jobs coming to the area. 

That being said, a large developer may have to update or put some money toward roads and traffic safety in order to get approvals.

This depends on a number of small factors that can add up to some big questions that need to be answered.I've done some sites in my younger years, so feel free to give me a message with your contact details and I'll be happy to help you out as best as I can.

Some investors bank on the value of a property going up if there's development aka gentrification going on near the property but that's still very risky.

@Conrad Metzenberg What were some of the factors that swayed you to invest out of state?...

So instead of renting out one side at $600 you could rent out (lets assume there's two bedrooms) each bedroom at $400 each (obviously utilities will play a factor in how much to charge per room). 

I recently came across a HUD (US Dept. of Housing and Urban Development) home in an area of NY I've been searching.