Yep, builders risk often has very, very limited coverage.  

Step by step things to do dor a successful wholesale biz and How to buy and hold with very limited resources?

As for the time limit, I'm sure it depends on what repairs need to be made as well as how good your contractors are.

. -- with limited info, kitchen.  

You will still have yourself a job and limited time with this type of property.

That may also limit your actions.

I had previously bid on this house twice on the auction and saw it had met the reserve at 140,000 (which was my limit for the house) but went substantially higher before it closed.  

Even though the connotation of that comment may seem as if I'm saying you must know your limitations, the opposite is true too. 

This way (LLC) you can also limit your exposure to any litigation that may come your way from other 3 tenants.

It's nothing lofty, but I believe it is rather attainable, even having small children like I do.Based on what I've read, wholesaling makes the most sense for someone in my position, starting out with fairly limited time and money.