Space size( 35 ft x 17ft x 7.5 ft)  also adding two skylights and 2-piece bathroom.

Time for a lifestyle audit?

Without any concept of how I would make that a reality and only $5,000 in savings, I took the bet.Fast forward 3 months and I was under contract for a piece of land in Somers, Connecticut. 

Rip out the drywall, put some funky connectors to piece it together, call the electrician back out, have drainage problems in the future.....Good luck and congratulations on your flip!

Distress can come from a divorce situation, impending foreclosure, absentee owner, late taxes, etc.Some sellers want piece of mind, which trumps maximum ROI.

If you don't have forced air circulating in the space, then put a space heater below the window.If the mold has permeated through the drywall, and is not just on a surface that can be cleaned, then you may need to replace the drywall.Check with your local utility company to see if they offer free energy audits.

There are so many parts and pieces and possible places to shine I tend to think there is a place for everyone who has an interest.

I prefer the research, contracts, analysis and back end office pieces while I have a partner who is great with meeting sellers and doing all the public work.  

I know a person who recently bought a 3 acre piece of property for 60k and subdivided it into 4 pieces.

If you do it yourself, as I understand it, you are almost guaranteed an audit.