For more detail on #1/#6:  For someone in your position (low salary, 1 time big cash infusion), unlike some other people on this board, I think it's critical that you set up a low-debt income stream vs leveraging up, because you simply can't manage through a rough patch and you could lose it all if you have a couple emergencies on top of each other. 

I patched in with double-sided tape in a couple of places and it hasn't been a problem (knock wood).Here's the rundown:1) - Blue slate TrafficMaster in my home kitchen (approx. 150 sq ft) in February 2014. 

@James Stevens I need interior paint on both houses and taking an interior wall down on one of them. then for both i need minor landscaping some kitchen counters and maybe fixtures and some  small drywall patching. the only serious thing I need would be taking the interior wall down.

We had someone come and make the house move in ready, we had a contractor come and patch some minor things, had the carpets shampooed, replaced a dishwasher.

Almost every tenant puts nail holes in walls, deep scratches, etc, that require patching and painting.  

Kitchen has white laminate in okay condition, kitchen and bathrooms have wallpaper in bad condition, one bathroom has slightly rusted light fixtures, the grey wall paint is either gloomy or chic (you choose), backyard has patches from the dog, master bedroom has a weird wood inset, garage has a big dent in the dry wall where someone's car hit it, Where would you invest to make it feel more clean and modern?

Then, I patched part of the roof, painted the outside, and repainted the inside hallway.

It was built in 1965 the rents were never raised and no repairs were ever made, only patches.

We went through a rough patch when I was injured and was on disability and could not afford all the bills we had.

Find someone that is currently doing wraps or subject to deals.I too am concerned about the trajectory of oil patch real estate in the near term so that should also figure into your approach.Let us know how things turn out.