With that being said most people are not Buffet and I highly doubt most people are going to have that type of understanding and discipline to be Buffett. 

Then I would get bids from GC's and individual contractors for each discipline to do the work required, that way you can decide later on if you want to GC the project yourself or not.

You have the discipline! 

Especially as, with a LITTLE bit of knowledge and discipline, the poor could OWN such units!

I know school has started but the truth is that with discipline and focus you can find good tenants any time of the year.

In my opinion you need more of a creative real estate education on Power Prospecting - Contract Engineering - Negotiating - Creative Financing - Making offers - dealing with off market properties - Hybrid offers - Public Auctions and creating credit lines and cash partnerships - to mention a few disciplines .Baltimore is a small town - but there are a ton of deals that can be found when you go under-ground to dig them up -I would be glad to give you some referrals if still think you need an agent to represent you.

It seems that the only downside would be a larger prortfolio with higher leverage (should be mitigated by keeping cash reserves if you're disciplined) and that you would only be able to put to work roughly 75% of the $300k equity appreciation, rather than the full amount.

The only setback is that you need to be more diligent and disciplined .

I will keep in mind that there are great deals to be had for patient and disciplined investors, and that I should be patient and disciplined myself.

I have seen enough customers set up auto draft savings accounts to know that if you don't have enough discipline to hold yourself accountable for your savings and spending then a bank account that you can withdrawal from whenever you want will not help.