Read about finding off market deals and marketing to them; read about making offers and estimating rehab costs; read about building a buyers list; read about the analytics of a good rental property of flip property.

It is fairly low-cost and efficient (you can always scale your entities as you grow; there is no need for an ultracomplex structure at the outset), but it is essential to ensure that entities are appropriately maintained. 

In my local market (SE Michigan) construction costs have gone up but home prices have fallen.

It cost about $3200 (they will send you a discount code if you look at it a few times) and had 6 classes all 2 weeks long.

there are costs to close on the buy, costs to hold, costs to finance, and then MAJOR costs to sell, plus...

Folks tend to far underestimate the cost, and length of time, that it takes to rebuild from a disaster such as this.

BTW, PV is currently hawking a "we partner with you" scheme that will cost $9500!

Cost to build should not matter there.Look at your deals. 

I have properties that would rent traditionally for $700-1000 a month, it's not unusual to pull in 3-4X that in a typical month, even 2x that in low/offseason.

The addition would cost me about $80k to convert the garage space into an additional unit.