Jason,
Your starting place shoud be your budget. Figure out how much you can invest. Just remember when flipping you have to include carrying costs. You must also pad the total budget for unforseen problems. With a construction background you may do your own inspection but, certain systems if you are not strong in have a professional do them. Remember though when it comes to selling do not be greedy. But, of course you do not want to leave money on the table. Get a good selling agent to be aggressive and find you a buyer not just list your home. I can go on and on but, these are some major points.

Hope this helps,

It's you again!! I'm glad to see th OR RENT part of this question. That can be a reality that you need to be 100% open to and have cash availability in the remodel/flip business.