@Steven Wetherillwhat about property management?

I looked at his videos and I could locate similar houses at similar prices on Redfin, the ones that need rehab but are not in horribly dilapidated state.

I'm just south of the twin cities, but I'd think Fairbault or Owatanna might be a good place to meet since there centally located between Rochester, Mankato and Albert Lea.

For me and my wife we are focusing on building out an ADU in our backyard as we are within a couple minute walk of the new Bethel Campus location.

I would recommend that you don't ignore it; repair the drywall, monitor it and see if the drywall cracks in the same locations again.

This community is being built by GS Courtyard Homes, located out of Bedford, IN.

Self-Employment Opportunities: Would it make sense to start a side business related to my rental properties (such as property management) to access more deductions?

It is our job to manage the risk at the inception of the project.Thanks for the info and comments.Alan.Good info.I don't mean for you to talk out of class, but Pace Morby says in one of his recent videos that he is doing "table top" closings (closing outside of escrow)  "because he knows what he is doing". 

The place where you can add value with no money is a situation like: you find project A, it is a 120k purchase and it should need 80k rehab but you can get rehab done for 65k cause you can do some of the work and you know how to save on materials and you can manage the rehab. 

*Another Exciting Development in Charlotte*The Iron District is set to break ground next year (address 905 w morehead st.)The Iron District's strategic location offers easy connections to Uptown, South End, Wesley Heights, Freedom Drive, Camp Greene, I-77, I-277, and Charlotte Douglas International Airport.