Anyways if I were in your shoes, I'd probably refi and use the untaxed proceeds to acquire new ones.

What would your road map for success be in my shoes?

Northeast of Los Angeles.My investment career wasn’t looking so hot.However, rattled as I was, I was an avid fan/reader of Warren Buffett (still am as a matter of fact).I was confident that times of panic were the best times to look for golden opportunities.Ok, I was fairly confident.If I would’ve been REALLY confident, I would have bought up everything I could get my hands on.Instead, I stayed the course and stood by my plan.I kept contributing to my IRA and 401k, and began looking for another property to purchase with the intent of living in it while stationed in the area and renting it out when I moved.Now, looking back, I realize that I made another rookie mistake.When searching for the property, I did not educate myself and become an expert in my new market.Granted, it’s a little more difficult for military members to accomplish this as we only get about 8 – 10 days to find a place to live.However, I could have started the process from Ohio.Anyways, for those that know the area, I found a foreclosure in a great neighborhood west of highway-14 in Lancaster, CA about 40 minutes for base.The previous owners had purchased the property at the peak of the market for ~$450k.It was now being listed at $195k.If I were in their shoes, I think I would have taken the hit too and walked.Well, probably not due to my security clearance, but I digress.

Home depot also has shoe molding for 0.23/lf. 

Next, go find my jogging suit and running shoes to start chasing them for the written bid.At least half the battle to just start the work is won and I am getting some exercise.

starting up trying to find deals on a shoe string budget

Real Estate is also a very localized market, so what happens in your town may not mirror mine.What I would like to see is a swift and modest correction in the market followed by steady growth so the other shoe drops and investors lose their fear. 

@Vinh Nguyen Put yourself in the tenants shoes.

If I imagine myself in your shoes, finding steady employment/ a steady source of income would be my top priority.

I'd put yourself in her shoes for a moment: she rents a unit in a duplex, (it sounds owner occupied, yes?).