I had to replace 5 external doors to the tune of $6K, and next project is digging a rubble drain in the basement to the tune of $3K.

On top of that I look at external forces such as developments and crime rates in the area to see how it can prosper. 

I like the concept of being the deal.finder so I'm never dependent on someone else for this part of the business and I can hand pick the best deals for myself.But much like you, the wholesaling is just a means to an end.

Also provide external and internal access to upstair room, which I could stay time to time whenever I want a weekend getaway.Does anyone have better ideas or see any potential issues in this plan?

.-$13,200 isn't true cash flow but it is what we captured beyond monthly payment over 2 years, we can assume 35% for expenses since this property is remodeled and the HOA cares for the roof and external structure.Total gain over 3.5 years:-$62,500 in Equity on Home #1-$30,000 in Equity on Home #2-$6,600 in Cash Flow on Home #1-$20,000 in Debt Pay-down for both homes combined-Plus tax savings that I don't know off-handWhen you look at each wealth generator I imagine REI far outperformed my 401K had I left my original $15,000 slow-cooking.Total Gain: $120,000Total Cash Invested: $35,000Net Gain: $85,000Next, I'm most likely selling the original home and acquiring a deal that net almost 5x the cash flow of that SFR. 

.-$13,200 isn't true cash flow but it is what we captured beyond monthly payment over 2 years, we can assume 35% for expenses since this property is remodeled and the HOA cares for the roof and external structure.Total gain over 3.5 years:-$62,500 in Equity on Home #1-$30,000 in Equity on Home #2-$6,600 in Cash Flow on Home #1-$20,000 in Debt Pay-down for both homes combined-Plus tax savings that I don't know off-handWhen you look at each wealth generator I imagine REI far outperformed my 401K had I left my original $15,000 slow-cooking.Total Gain: $120,000Total Cash Invested: $35,000Net Gain: $85,000 (plus whatever tax benefits we've received - highest returns yet!)

The property has one external entrance but leads to two doors. 

I went through this as well until I got to the point where I was more driven to act by my frustration of not acting (and some other external changes that were going on) than I was driven by the fear of failing and losing money. 

@Eric Wilkinson, I have mine through Home Warranty of America, and yes, they do offer standalone external sewer line protection.

Even have a turnkeys Facebook group which is a lot of fun but can't put an external link in a post.