Get a real insurance quote for a rental, not a owner-occupied home.2) Become friends with a contractor or someone you know/trust whom has taken apart a house (preferably many) that "look fine".

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

I received a modification to my original offer on my first deal stating that the current security deposits would need to be transferred to the buyer’s (my) designated holder that “shall be a licensed Georgia real estate broker.”

You want it for at least 20% below market, which is $132,800.You go through with a contractor and he estimates $20,000 in repairs so you pad it a little and say $25,000 to cover some undiscovered issues.You offer the owner $107,800 and tell them this is your bottom line to ensure you can make the necessary repairs and turn a "reasonable profit."

Would you all recommend taking a General Contractor to a potential property and paying him for his time in exchange for him giving a good estimate of the scope of work? 

Need to build a team: Property manager, Title company, property inspector, contractors, etc.  

In Arizona you have the same license for both... 

@Raquel Rigby On my live in I flip used a credit card to pay contractors.

All, I got below quote from a contractor and it is much higher than expected.

You still need to maintain the properties, you still need to have good property management, be careful with tenants, hiring contractors, etc.