Is there a sweet spot to look for when analyzing a market to be a potential "flips" market with regards to months of inventory on the market and the average days on the market a house sits before it sells? 

Most of the houses with 2 stall garages are selling in the $110-125k range depending on upgrades and if they've added a 4th bedroom in the basement. 

Our "sweet spot" in our market- project size wise, I think we will end up in the $550K price range for our finished assets for the most part on the east side of the city. (2.)

The comps in the area range from 460-520 currently. 

He doesn't hang out here so I sent him your question and here's what he said:"My cost to paint would be $7650(1.25 sq ft inside/ 1$ outside), u can expect 3$ish sqft flooring depending on materials types, cabinets range from about 3800$- to nearly 20k installed for a set.

I generally buy in the 55-65 year old range.

I am, however, interested in perhaps selling my primary residence, for the right price ;), and have received some letters from RE agents saying they have clients who are interested in the house as it's in an area with low inventory. 

A real estate attorney is probably not a finance compliance attorney, the good ones are probably in the $1,000-1,2000 range per hour.

Looking at around the 80k proce range.

The buying frenzy will fade Good news for regular people: the homebuying process should get a little less hectic in 2015, thanks to eased inventory and credit plus the exit of investors from the market.