I'm fairly handy and have good contractor connections.

Indeed, the FAIR ordinance is anything but fair to non-corporate landlords, seemingly punished for investing in rental houses to generate income as an alternative to stocks and bonds.A handful of opportunists likely could learn to exploit these new rules, preying on otherwise law-abiding landlords to obtain legalized shake-down payments.

The "fine print" here is fairly sizeable upfront fees and high interest rates, relative to a traditional construction loan from a bank.  

We have project management software, Buildium, so the day-to-day tasks there are fairly well taken care of. 

I’m in the area around the Fair Grounds and Westbrook Park, great rentals!  

I would also only do this if both properties have solid appreciation potential.If it was me, I’d consider trying to get a HELOC on the first property and use the funds for a flip or a BRRRR so I could pay back the line of credit within 6 months and then go do it again.

Focus on keeping upfront costs down and shop around for lower interest rates or lender credits.

A fair warning, you'll be wading through complicated info.  

If my husband and I were to start over again we would buy higher quality assets and not be focused on immediate cash flow and unit count like we were when we started this after exiting a fairly decent sized small business.

House have good layout, good area, great schools, price point was fair for that area.