I figure if I want to scale my portfolio I should spend at least some time property managing.

I am working on a product that will help small-medium size landlords launch and maintain Internet presence at a small monthly cost without spending big budget on custom development.It will include: SEO, custom domain, direct syncing with your property management software, syncing with QB. 

If that's the case, the flex space adds no value from an income standpoint, unless you spend a little money to put in an exterior door and window. 

I'm particularly passionate about central Florida, where we use to live and where we currently live.Outside of real estate, I enjoy flying as a professional pilot, spending time with my family, and traveling.Excited to learn and connect with you all!

@Daniel DeBruin, this is really all market dependent and how much you want to spend versus how much it will impact both the rent you can achieve as well as the quality of tenants it attracts.When it comes to design, it is all a bit personal opinion, but I will say: contiguous flooring always trumps mismatched, hodge podge flooring.  

In other words, this is cash we didn't need to spend (to pay taxes) due to our MTRs.Taken together, cash flow of 7.4%, appreciation of 5.3%, and tax benefits of 20.8% is a promising start for us.

As long as you can afford to make the repairs within the next year or so and you're not spending more than the house is worth, I would move forward with the purchase.

If you had $25k to spend (possibly up to 35-40 if I borrowed a bit), what would you be looking for?

You can sue but you u are gonna spend just as much on legal going after the wholesaler or owner and most likely they have no money anyways so you are chasing a ghost.Unfortunately this happens and this is why you should also follow your checklist and not take shortcuts when buying a property

Go to real estate investor meetups and spend time talking with other investors than salivating at scaling without the proper foundation.