If you're new, I would highly recommend having an experienced inspector/appraiser or general contractor evaluate the property for and with you at first. 

I'm looking for a contractor known for work in the Bridgeport area of CT.

I’m not saying it’s a no -go ,but I am saying practice your due diligence and get some professionals involved before you get too jumpy  if those numbers are correct that's about as good as it gets spread wise in the Portland market.. 230k ARV is one of the very cheapest areas of the city if its a free standing SFR detached.. and you say its on septic that leads me to believe its not in the city.. and seller warranting that stuff is worthless.. just try to collect after the fact when he is long gone with your money.. get a good contractor in there to assess the condition and what it will take to rehab.. 30 to 40k in our market is basically cosmetic only.

Get out and talk to contractors/investors working on those houses. 

Now I’ve enjoyed my time off and being with my daughter and want to continue doing that.

I know in Kingston as a contractor I do all the paper work for my clients, but if you plan on doing work yourself there will be a section that you sign off on saying you will be doing the work.

First here's my situation; I've been a contractor/business owner for the past 13 years.

Do you enjoy your work as an appraiser?

As a BP fan I really enjoy learning about real estate and plan to, in the very near future begin investing myself. 

So many ways to go about this but I've been enjoying immersing myself with knowledge through podcasts, books, and the mistakes of others from meeting RE investors at REIA and meetup groups.