I had been looking for properties around the area I currently live, but very few make sense in regard to the numbers given the current state of the economy.

This involves thorough research on local trends, networking with other investors and property managers, and finding reliable contractors who deliver quality work on budget.

:)Having done something similar years ago, would advise you NOT to quit W-2 until you have a crew you can depend on to do at least 80% of the rehab work.You should also be building a network that exposes you to more deals than you can currently handle.Otherwise, you're just trading one job for another and won't be able to scale enough to generate the number of flips you need to replace W-2 job.

Using 25% or $84k as an assumed down payment ($335k x 25% = $84k) and $24.5k of appreciation per year ($825k current value - $335k purchase price = $490k appreciation / 20 years = $24.5k per year appreciation), you have an annual return of 29% on appreciation alone ($24.5k appreciation / $84k down payment = 29%). 

In the request for order of possession, where is lists the cost in this proceeding, can I add the current and future two months' rent, plus additional costs including court, mileage and hotel stays ect.

I am not currently planning to buy additional real estate.

we currently have land in mississippi and in Florida.

Replace my current property manager with a more proactive one, though there is no guarantee that the next one will be a better fit. 

However, the market is in a precarious position at this current time.

@Adam Fischer My partner and I have a commercial building (20,000 sq ft event center) on 8 acres currently under contract here in Ohio.