The Op asked about hiring an inspector or contractor for a house “he plans to flip”. 

It seemed the OP was wanting the increased rent option of student housing, but others were saying the drama would not be worth it.

The OP asked about using it for retirement, not to live off the cash immediately.

Just in case you have missed it, the theme of this post is SPECIFICS.Like @Minh Le, I live and invest in the SPECIFIC market that the OP currently resides.  

Briefly paraphrasing from online sites such as Centaurusps and casebriefs, a business entity known as the Farmers Co-Op sold notes to raise money to grow produce.

Almost all are trying to get REO listings as that is what is selling in most markets not regular resales which are expiring or withdrawn.Until you close you don't get paid a commission so taking overpriced junk that won't sell is a waste of time.So you will find many new agents getting REO's as the government pushes small business and diversification to minorities etc.The asset companies want to look good with the government and in compliance.So if I am a new agent struggling to survive and I have a 100k REO most likely the commission total is 5%.The reo broker gets 2 to 2.5.The buyers broker co-op is at 2.5 to 3.0.That new agents is likely on a 60/40 split with their broker.So 90k offers at 2% is 1,800 commission and then agents gets 60% after cut with their broker 1,080.Actually it's way less than this when you count in other fees too long to mention here.ORA buyer where you get 5% of 90k = 4,50060% of 4,500 = 2,700 to the new agent!!

The OP wrote; "Why would anyone flip houses when you have to pay 50% in income & Self employment taxes?"

For the OP, you do need some type of self defense.

We are commercial private lenders and we would only be able to fund a small fraction of the deals we now fund if we insisted on joint ventures.What the analysis by the OP is missing is the effect of a free market.  

Hi @Marco SantarelliI don't want to hi jack the OP's thread so are somethings that come to mind.TransparencyTheir focus on investor's success ie ROITheir experience and knowledge of the neighborhoodTheir desire to align with investor's objectiveExtent of rehab and PM