Being a sponsor isn't just about skill--it's also about financial strength. 

My dad is a physical-labor kind of guy and although I've learned a lot of trade-skills from him, I lack exposure to the financial nuances of buying and selling property. 

No it isn't a formula it depends on the property, usually if something is going to sit for 6 months something is wrong, it usually means the seller is unwilling to accept a realistic price or there are repairs that need to be made that are not reflected in the price.

You're probably going to be a lot better off hiring out this work and focusing your time on income producing activities that allow you to use your current skill set.

You have skills people need. 

I was thinking that my language skills might be desirable.

I think a skilled attorney could sue the state on constitutional grounds. 

But skilled nursing/assisted living, office, SFH, will soon follow the downward trend. 

Also on the rehab portion, I'm guessing with my skills at finding cheap material and appliances along with a builder that lives next door we can come way under rehab cost.

All were foreclosures that required rehab work and in a couple of cases remodeling of floor plans to make current with out of pocket cash and my own skills.