In this example, the GPs aren't going to do any accelerated depreciation via cost segregation.I see from the investor summary that the acquisition fee of the unit is $20M.

With this in mind, what are some effective ways of finding flippable houses that aren't exactly gut jobs?

I am sure that opportunities may exist in these areas, but since they are so far away, they aren't areas I service.Mesa is more local to the Valley, and so is the West Valley. 

Of course the real opportunity is to improve on that NOI that I will be inheriting from the current seller.I'm doing a 1031 exchange (thanks for all the education @Dave Foster) which should also help me save on the capital gains taxes. 

You're wrong.Properties aren't listed in some arbitrary method.

Apart from learning/educating, you can choose to work with experienced Sponsors by investing in their deals.

@Kyle Baron you mention that they aren't out of the place yet, along with back rent I suspect you will also have cleaning and other fees you will not be reimbursed for. 

Seems like the kids our age aren't buying and in NH there aren't that many rental units available.

So many things to consider and I am far from the level of real-estate education I’d like to be, but you need to get your feet wet somewhere. 

As your primary residence, you should purchase the best house you can afford with your kids education and extra curricular activities in mind.Problem with SF public schools is the lottery system, but that's a whole other discussion.