Good luck and I’d love to hear about your progress. 

I know this is considered wisdom, but I don't want to start in real estate if its gonna take what I described above plus 20 years of slow.and steady progress to finally be able to make 30k per year profit. 

I am going to hold off and see how it progresses before I continue. 

Keep us posted on your progress. 

You said there is no appreciation in site, I think it would be better to find a multi family in the "path of progress" or even in a better area that will be stable, with potential upside, as opposed to this deal that seems mostly negative.  

But when that mood leaves, will you be disciplined enough to continue doing the boring but necessary things to keep you progressing toward your goal?

If your ad says "newly upgraded", or "new appliances", then you better have a photo of the completed work, and not the work in progress. 

We had to go to the property and oversee the repairs to get any progress. 

In addition, I'd like to either house hack my first single family house  or owner occupy a multi family (under 4 units) as I progress in my self mastery, personal finance and real estate education.

It's a pain but it is another set of eyes on the building progress.