You need a repair partner who can get out immediately and has quick access to replacement parts (if not already in stock). 

Additionally house tenants bring more of their own appliance, like refrigerator, washer and dryer; which means tenants are responsible for repair and replacement of their own appliances. 

I've done fairly big renovations where in most cases, Im replacing almost everything in/on the house.

Understand Replacement cost versus original building costs. 

i wish i had better news for you but it's probably not feasible in the short term to replace your W2 income with rental income. 

Insurance-  replacement costs.  

All are perfectly functional now, but could pull higher rent with replacing the flooring, and updating the kitchen.My current financing setup for this deal would be $235,000 from the HELOC I already have secured.

Or is it purely an investment? 

I want to work my way into anything full time because I have a decent job now but eventually i want to have real estate/construction replace my income. 

Pure curiosity here