This being my first project I don't know what I don't know and would really like to get one under my belt, even if my ROI isn't as high, but don't want to start off on the wrong foot.Thanks 

Then buy at a discount because the owner is more motivated to get rid of it, add value through renovation, increase the rent and increase the cashflow significantly.If you do what 99% of real estate investors do, you'll get the results that 99% of real estate investors get.I think with 1,000 apartment units under my belt, I can modestly say I belong to the other 1% :-)

You have one under your belt, rehabbed and rented. 

The wall units have blowers & disperse the heat more effectively than convection baseboards.

A year from now I want to be working on getting a second property under my belt by doing the BRRRR method. 

@George Blower - Correct. 

.#5 Practice, Practice, PracticeWalkthrough potential rehab properties (or find properties virtually online) and practice creating detailed scopes of work, quantifying repairs and estimating rehab costs for the projects.Once you get some experience estimating costs or get a few rehabs under your belt, you will be able derive your own 'formula' that you can use to quickly estimate costs and analyze deals.  

@Alex Speed Do you have any deals under your belt?

Analysis Paralysis is real, but once you get your first deal under the belt you will have much more confidence to move forward with the second one.

For example, after I have 3 deals under my belt, my APR with my HM lender goes from 10% to 9.25%, then lower again if I’ve got 10 or more deals under my belt.