@Sarah Lewis's practice is pretty good, because having an attorney send an onboarding letter tells us about anything that might be anticipated to go wrong so we can budget that into the transaction.

It looks likes a global trade war that will raise prices across the board just started here in March of 2018, so sell sell sell is the best option if you believe that the drop in consumer discretionary spending will leave less money in people's pockets leading to a recession and/or downturn in real estate values. 

You can learn a lot which will help you toward your goals if you spend time with people who are already doing what you want to do.

My passion/hobbies in life are spending time with my friends and family, Racing and riding motorcycles, and continuous learning and self improvement.

No nonsense.Risk Aversion: I will not spend THAT much money that I don't have right now.  

Maybe leave as is, and budget for a foll color change after the next tenant moves out?

There’s also entitlement risk – the chance that government agencies with jurisdiction over a project won’t issue the required approvals to allow the project to proceed; environmental risks that range from soil contamination to pollution; budget overruns and more, such as political and workforce risks.Location is another idiosyncratic risk factor.

It is not renewable and you can spend every minute you are given only once.

I would suggest that you establish relationships with some wholesalers or any other provider that has rental property that meets your profile, and spend some time communicating with them and building a relationship.

Not a lot of product in immediate area.purchase price $820,000renovation costs post purchase: around 350kTotal Monthly Rent: $7,000 (after renovation/ pro forma)Annual Rent: 84,000Vacancy: 5%Total annual Expenses: 25,000Annual Debt service: around 50kcash down: 500kall in costs: 1.2mANALYSIS:My analysis is that I spend money and my time to achieve a 5 cap.