Back in Arizona all of the sales price data was available from the county assessors office so it was easy to see what people were paying for deals even off market(most of the time).

However, since they can say they have lived in the property as their primary residence for two (2) out of the last five (5) years, they qualify for the tax-free exclusion of up to $500,000 in capital gains as a married couple (pursuant to Section 121 of the Internal Revenue Code). 

It's usually pretty easy to find out what the current zoning is, either online, or by going to the city/county offices and asking. 

The mortgage officer needs the estimate by the contractor that will perform the work once the loan is closed.  

Revenue – land contract payment + management fee + insurance + expenses (not including property taxes) at the conclusion of the first six months here will have a yield of 18-20k in profit total.

To make this work to YOUR advantage, it needs to be done with office appointments.

Also, I'm in the process of searching for a mentor/or part-time work working in RE office to gain some experience. 

In Michigan, if rent is not received in my office on or before the 1st of the month (the date on our lease agreement as to when rent is due) then on the 2nd of the month, I send my tenants a Notice to Quit. 

One agent event took me to her office and showed me how to prospect.

Also be aware that each office is a bit different.