Managing any more than a handful of units on my own would be a huge strain on my already non-existent free-time, so I see myself switching to using property management on my second or third property.

I use a grecko I think from depot, just make sure you strain your paint first.!

Also, I think some banks have tightened up on Short Sales and having someone else wholesale the property to a 3rd party(Buyer).

Are you experiencing tightening margins with the flood of new investors lately? 

I thought that the only way to get good deals is by making those quick timeline offers.Seems like the Blue Springs area and many others are tightening up, and more aggressive approaches are required.Any guidance or thoughts on that idea.

You are right - working too hard will def put a strain on you mentally and physically.

Refinance + Rehab deals are harder to do b/c it strains on the ARV and profit more.

2% rule in Fay went out the window about ~5 years ago unless you buy on Murchison ave, you can probably get a 20K house that rents for $400 there, but I don't recommend this.I was buying properties at 1.4 - 1.6% for a while but the margins are tightening from my experience.

La Quinta as well, although they are tightening things up a bit, Ordinance wise. 

I am leery that business can ruin or at the very least put a strain on a friendship, which is another reason why I came here for advice.