Here are some details followed by some pictures.Yr Built: 1975Sq Ft: 22503 BR / 2 BA.75 acresEasy highway access in top school district in the area Asking Price: $126,000ARV: $205,000House on the same block from same year and same size / configuration sold for $205,000 18 months agoKey Issues:- Foundation - common in this part of texas for this age. 

First, an overview:• Find out what is the best type, configuration, rent range and location within the area you are considering.• Determine whether you can make an acceptable profit?

Your best bedroom/bath configurations with widest rental demands will be 3Br 1.5 or 2 Ba or 4Br 2Ba.

You want replicate as exactly as you can the configuration of the pipes.

There are only a few configurations where that can work, and these designers drew them.

This time, we configured the basement (with separate access from the garage) so we could rent it. 

They start off with basic property configuration (bedrooms, bathrooms, etc), then consider costs (heat, provided appliances, etc) and features (central air, ceiling fans, etc). 

I also agree with @Anson Young, while basement master baths are not desirable, I've definitely done a few in my flips in the past just because configuration made the most sense without having to re-structure everything.  

I understand wholesalers/flippers find many deals through direct mailing and other more intensive searches, but would appreciate a nudge on where my time would be best spent looking for my first property.I would also like to note that I have my financing already configured and am fortunate enough to not necessarily need to worry about it at this stage, most of my concerns come from what is listed above.Thank you for reading!

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