The more properties you flip will continually increase your chances of running into a property with a title problem.

I am a fellow real estate investor, but also run a visualization studio and we produce high quality renderings for all project types. 

You incur the cost of running the background check (be it hard funds to pay for a service, or your time spent calling around to employers and previous land lords). 

Now I figure there may be a humidity issue in the basement, but does that warrant the dehumidifier running 24/7?

If it’s a run down home that has been on the market for years, the buyer can usually get lower rates and terms.  

Or do I find the potential deal, run the comps and prepare what I plan to offer, then approach the HML with the proposal, get a letter of intent from the HML (if they like the deal), and then put in my offer to the seller?

Even if the numbers on paper look good, I think the person/people running the show are most important to help make the numbers a reality.

He too is a clean dog, but he gets to run around outside a lot.

We have employed this strategy ourselves several times and any time you can cash flow $2000 a month and possibly pay the place off in 6 - 7 years you have hit a home run.

Grant street group and ********** are two sites that run tax sales for many counties around the country.How much to start with depends on your financial position.