Horror story #2: while selling off one of the Class C Indianapolis properties, buyer asked me to pay replace the sewer line before closing... absolutely not...here's a partial credit (check to written out to contractor from closing proceeds so buyers don't pocket the money) 

If I were you, I would really try to narrow down the search to three specific cities that you're interested in.

Then maybe you are able to roll that money into a downpayment on another primary and an investment property.As for whether you should be looking for a loan for the work vs. paying for it out of pocket.

A good strategy would be to start with maybe three T12's From approximately the same Number of doors in the same market your intended purchase will be. 

That stuff I can hire out more in the future but I am choosing to put more of my maintenance budget in my pocket for now. 

I believe it will end up #2 and we are already seeing that in certain markets.Also people are freaking out right now forgetting real estate is VERY SLOW. it take years (look at 2008 as an example, three years later prices were still in decline)...

@Ethan Slater Welcome to Bigger pockets..

Really your reply is the kind of thing that has made Bigger Pockets so valuable for people like me with more limited access to a broad range of more experienced professionals.

It’s part of the qualification criteria, and any problematic tenant should be revealed by speaking with two or three prior landlords.

BOOM - retirement started with a bunch of cash in your pocket and no tax bill to slow you down.