I knew this was certainly no get-rich-quick flip or even barely pay the bills flip from the beginning, but I was motivated to get my first flip under my belt...and more importantly to use it to attract a bigger fish who would bring money to the table for flips going forward. 

We have operated medium sized construction company's (20 employees).

On your first point of purchasing the not from the bank, there’s a few items that need to be checked of first:Smaller/ Regional bank (not your big 4 or similar size)The bank needs a reason to sell but also a want (loan is severely delinquent)Usually a preexisting relationship with the bank

When you don't have the ability to put a strong deal on the table by way of terms, you have to strengthen your offer with price.

I have not done any deals like this myself, however, I recently walked a property that was exactly what you describe, in the Houston area. 70’s build and same room sizes.

Hello again BP family,Ive got a hot one here, My younger brother has operated a construction style business for several years now...under the table.

So location over lot size.  5.

Estimate 40’ x 14’ It would be very easy to turn half of each one of them into a 3rd bedroom and still maintain an appropriate sized screened in porch on the other half.I have a guy that is very capable of doing the work.

@Lucas Carl there were lots of indoor pool cabins that size built prior to a couple years ago in our area.

Traction IMO did a perfect job of scaling the concepts down to the size of a real estate team or business.