However, before you do so you should ensure that your revenue from rental income covers ALL your property expenses in the townhome, including mortgage, taxes, insurance, maintenance/repairs, vacancy, property management, etc...

Step 3- hire property manager to manage/look for rentersStep 4- look to refiance out of the hard money loan(how long after having a renter in can we refiance?)

No, you can manage multiple markets in one account.

With your background as an electrician, contractor, and project manager, you have a unique advantage in real estate.

Assuming that continues and you manage your properties competently people will think you are way smarter than you are in 10 years. 

Especially after capex, vacancy, management fees, etc etc. 

If you're going to run a successful business renovating houses, ultimately you being proficient at/and or managing said proficiency in estimating will be a crucial part of your underwriting.Google "how to estimate house remodeling" your hard work will be rewarded.

I has two GREAT property managers that immediately come to mind, one handling 5 high end high rise condos I owned in Phoenix and the other one handling a 12 unit very lower end apartment building I owned in Arlington, Texas.  

Written by attorney investors, it's full of practical advice about the management of investment property, has sample forms that can be edited, and - most importantly - tells you what your primary state laws are and where you can read them.

Investment Info:Office Space commercial investment investment. 100's of completed projects, JC Beal Construction is nearly 100 years in business, Beal Properties manages well over 2000 doors all throughout Michigan and the Toledo, OH area.