Is there anything that is not currently functioning properly?"

If you are planning to do a fully functioning cabin, you would be dealing with septic, a well and bringing in electricity.

According to my realtor (who is functioning as my realtor and the seller's realtor) it would easily sell for $340,000 if it goes on market (and has an ARV of ~$375,000).

  ( I say this because you are talking about redesigning layout which costs alot of money) Your mindset needs to focus more on making your place solidly functional- I start with the basics roof, plumbing, electrical, HVAC, Water heater.

show me what to do when you don't have a functioning bathroom but you've got a bucket..but at least the job took twice as long and cost double :) Cheers. 

I guess it's just a function of being toward the top of the market.

Cash flow is often a function of how much you finance and perhaps the interest rate you can get...so right now in DFW area I would expect in many cases you will need 30-35% down and 65-70% leverage to cash flow.  

Now I am a fully functioning Solo wholesaler pregnant with my second child And I haven't looked back since.

Jason, I'm sure you probably did this but use the search function, type in "insurance for flips" you should get hundreds of post.

Mail it until they tell you to stop or add it into a rotation.