If all goes to hell, I still have a 9-5 that pays well and a degree in chemical engineering.  

I'm absolutely not experienced, nor a professional in this, but I have heard rumors that due to the chemicals, it could be enough to condemn or make the property inhabitable.  

I don't want to sound harsh but you should have had an exit strategy in place before taking on the rehab.

Please understand I am not trying to be harsh, but helpful.

I currently work a full-time day job as a chemical engineer (shout out to Andrew Cushman from BP podcast episode 170), but I'm planning to eventually transition into real estate investing full time.Short-term, I'm interested in spec home building, as well as fix-and-flips, but eventually would like to change over to a buy-and-hold strategy involving multi-family properties for the long term.

I believe the author experienced harsh consequences of the 2008 crash as he was investing in Detroit but it does not imply that the information in the book is not helpful.  

Payments are just over $1,300/month. pool service, $100 projected( have done the chemicals initially myself), landscaping free, all desert scaping, not much work to do.

I had mine done on my recent rehab (granted it was really bad) it was chemically cleaned it cost 450.

Harsh learning experience.  

Just be aware that real estate is harsh on niche concepts that can be considered cultural fads and not long term viable markets.