Buy and Hold for Cash Flow, Buy and gold for wealth generation, BRRR, Flip etc... each market is geared toward a certain strategy... or better put one strategy may work awesome in Hamilton, while another may be just near impossible.  

You want it for at least 20% below market, which is $132,800.You go through with a contractor and he estimates $20,000 in repairs so you pad it a little and say $25,000 to cover some undiscovered issues.You offer the owner $107,800 and tell them this is your bottom line to ensure you can make the necessary repairs and turn a "reasonable profit."

Nice profit! 

It may not, however, be the highest and best use of her 401(k), which could be invested and generated tax-sheltered returns at a higher rate than the interest your wife will be paying into the plan.

If the deal is good enough a local investor may be willing to fund it and split the profit with you in some fashion.

I found that , yes, I saved on taxes, but that maybe without the time pressure of those 45 days, I could have sat back and maybe found an awesome deal (instead of just a good one) , that would have ultimately created more profit for me than what I have saved on taxes. 

It's a good deal when you can create a solution for the seller and a profit for yourself.

The setup, legal and continuing compliance costs alone will eat into most, if not all, of your profits. 

Not only is it not scalable but if I was to analyze my profit by going off the number of hours I've spent fixing this place up it would be the worst hourly rate I've had in my life.

Will I be able to place a mobile or stick-built home on the property without any issues or sell it for a profit?