Came across this article, and although it might not apply to all situations, I believe there is something to gain from it.

Plan ahead.  Will you need financing to start or finish the project?  Are you going to start with your own working capital and then seek investors/financing later?  (If so, brush up on these tips)  Are there underlying issues beyond your expertise that might sour this great deal later on?

Rehabbing Houses For Love And ProfitElizabeth Ellsworth AGE: 51 New Canaan, Conn. Day Job: bank marketer Strategy: Rehabbing high-end houses Elizabeth Ellsworth rehabbed her first house, a 1920s Mediterranean revival in the El Cid historic district of West Palm Beach, Fla., while working in marketing for Citibank Latin America.

via Forbes