While it doesn't have your kid element, our story does have the crazy predictable components of life.I too am looking for an opportunity to work on this full time so we I can stay home and raise our future kids.Feel free to pm me if you want to talk.

You can insist on doing it "your" way, ignoring local customs, to your own detriment.

Tenants are extremely hard on appliances, it is not uncommon.Landlord Responsibilities: Landlord will at all times during the tenancy keep the premises fit for human habitation, and shall in particular:a.Cultivate, care for and mow surrounding grass, lawn, flowers, and shrubberyb.Maintain the premises to substantially comply with any applicable code, statue, ordinance, or regulation governing the premisec.Maintain the roof, floors, walls, foundations, and all other structural components in reasonable good repair as to be usable and capable of resisting normal loadsd.Keep any shared or common areas reasonable clean, sanitary, and safe from defects increasing the hazards of fire or accidente.Provide a reasonable program for the control of infestation by insects, rodents, and other pests at move in f.Except where the condition is attributable to normal wear and tear, make repairs and arrangements necessary to put and keep the premises in as good condition as at move ing.Provide reasonably adequate locks and provide keys to the tenanth.Maintain all electrical, plumbing (main lines), heating, and other facilities and appliances supplied by Landlord in reasonably good working orderi.Maintain the unit in reasonably weather tight conditionj.Provide facilities adequate to supply heat and water and hot water as reasonably required by the tenant

Making lots of changes or being indecisive can be detrimental to both the budget and the schedule.

Finance major here so completely understand how detrimental timing the market can be, just have to be cautious going in for the first time.  

From there, you can determine what components are priority, and how much of a factor location will/should play into that.

There is obviously a risk component here and cash flows need to be managed, but prepaying FNMA mortgages is a terrible use of money.  

My first question was do you have all your components in place; i.e. your contractor, your ARV, Rehab budget, materials?

I guess sometimes knowing the area too well may be a detriment. 

If your present circle of friends are more interested in enjoying the good life day to day lose them quickly as they will be a detriment to your future.