So, before I address all of the points I read in this thread, can we agree on the following:- All properties in a given neighborhood will all have different market values,- The simplification of those values could be placed into the following three (3) categories;   * AS-IS (No deferred maintenance has been addressed AND curb-appeal is seriously lacking)   * Enhanced (all deferred maintenance has been addressed and some newer "creature comforts" installed)   * Optimal (highest priced, highest and best use dwelling in the neighborhood)If you agree to these simplified characterization, then the following might be agreeable: @Randy Thomason - [Good and Bad Wholesaler, Double Closings]There are good and bad wholesalers, just like there are good and bad real estate agents and brokers.

The optimal thing would be to have a tenant move in the day after repairs are done, limiting vacancy costs. 

Nicely put, @John Barrett , the optimal balance between cash, equity, leverage, and cash flow is an elusive target that probably changes by the minute in today's world of unlimited information. 

Any creative ideas on ways to optimize this or alternate ways we could allow the upstairs tenant to regulate their heat? 

From a purely financial perspective, the optimal solution would be to leave the mortgage in place and simply use the windfall for investment purposes.

Part of getting into REI is so that we can spend more of our time together rather than spending more than half our day at other jobs and commuting, getting to work together is a big part of why we want to take this on (and the potential that RE Investing has for financial freedom).My Concerns: I originally thought I would develop myself as a contractor and do most of the work myself at first, but when I consider the time constraints (holding a house way longer to do the work myself, and the quality of work suffering) I realize this isn't an optimal plan.

Hey Bigger Pockets Community,My name is Kyle Starkey, and my background is in Marketing and General Business Optimizations and workflows.

Nothing wrong with being nicely comfortable and content and doing what matters most to you Instead of hunting for another deal or optimizing every dollar of equity!

Being not from the same industry in my current situation, I know it took me well over a decade to first understand how I can optimize my earning potential and then eventually somewhat be successful in that. 

@Aubrey HardmanI believe the answer you are looking for depends on your personal goals and what phase you are currently in.Phases of a RE businesss - Buy a Million(Acquisition), Own a Million (Growth/Optimization), Distribution (Maximize Cash Flow)If you are still in the Acquisition phase of your business, you should be setting all of those funds aside for acquiring new properties or investments to add to the portfolio.Keep in mind that the ROI is often better keeping the property leveraged by cash out refinancing and putting those funds to work as well during your growth phase.