I look for smaller places that I can handle on my own (2 bedroom max), no major structural/foundational issues that would require bringing an engineer in, no demolition that would require an engineer, that kind of thing. Finding an inspector that you trust and that knows their stuff is really key here. Basically the same kind of things you would look for when investing in house flips (which is really all I'm doing, just for fun on my own).
How many weekends does it typically take before you're ready to sell?
This sounds like something I'd do even if it just barely covered costs (including a reasonable per-hour time cost).