Overall, does anyone have any experience with this type of undertaking?

Besides real estate, I own a software development company and am a programmer who once specialized in 3D graphics.

Thats a big task and in my opinion a little too big of a project that I wanted to undertake for my first property.I have been looking for more good deals in the area but I keep getting agents showing me properties that are already at the max for the neighborhood in terms of appreciation and I wanted to find something that was below marked value that I could put some sweat equity and decent rehab into.

I'm a graphic designer based in Athens, Georgia. 

Inquirers must seek the advice of their own legal counsel prior to undertaking any course of action related to this inquiry.

But you have to acknowledge the complexity of projects and the risk that you have to undertake in every investment.

Currently I work at ASU as a graphic designer at the Tempe campus.

I am coming out of a graphic design background of 16 yrs.

This morning, on the news they are displaying a graphic about how to separate your debris.

The bottomline, @Leo Semenov, is that you have to decide what how much risk you are willing to undertake and whether you have other viable options.This is a great place to learn about all aspects of REI so use the resources here and you'll be well on your way.