They have a product, a simple, or elaborate system that enables their customer to reach their desires.

I've talked to 3 other new management clients who have now decided to not to sell, because they will take a loss.Now, I know the Turn Key product is designed to be long term and the buyer should do their due diligence, but my conscience and reputation will last a lot longer than a quick profit.

Due to this, the 203k loan may not be that great of a product for a live in flip.  

In my opinion I have found a tremendous benefit to working with someone else (as long as they are involved and being productive)1) having a partner gives you someone to bounce ideas off2) To me it's more motivating (ex, let's see who gets in front of more people this week)3) They can help finance your growth  with you.As long as you and your partner are motivated and skilled enough to succeed, you will do more than twice the amount of business that you would do alone, and make half of that.Hope this answers your question.

You are in an EXCELLENT position when you can either buy or list them, and an even better position when you are able to do other types of deals (Subject To's, Lease Options, Rental with your property mgmt, etc. etc.)Click on my face in the upper left of this post and watch my profile video...

There is a great meet up in Fairfield as mentioned and is excellent networking.

I've run my calculations and it appears to be an excellent return.What sort of extra due diligence (if any) should I do for section 8 specifically?

I've run my calculations and it appears to be an excellent return.What sort of extra due diligence (if any) should I do for section 8 specifically?

They are an excellent source of information.You can also find motivated sellers by starting a direct mail campaign targeting absentee owners with high equity.

Bigger Pockets is an excellent resource, especially the podcasts.