Maybe that's why it's even worse that the council did this...I know we've heard from many of our owners and none of them raising rents right now so rather than tackling the true issues impacting the city, they're pandering to a base and trying to create a problem they can solve (demonize one group and set them against another...sounds like a familiar playbook).  

Ive expanded on my skills but i know exactly what i could tackle and what i would contract out( for example i can drywall but have no desire to do it myself on a project for the simple fact of time/energy it takes however i would do light framing and finish work myself since ive done it alot more).

If the crack is in the wall I would follow J Scott's advice if you did want to tackle this house, possibly in combination with a french drain.

This way the managment company and the tenant cannot screw you.If you decide that you are ready to tackle four tenants at once, then that could be your second purchase.

Buying it right and making it look good will go a long ways compared to getting into something you aren't ready to tackle.

How do I tackle this?

What do you think about the strategy to use flips to build cash reserves and then tackle the recurring revenue options with those reserves?

I'm not sure if virtual rehabbing is also something I should tackle early on.

If the repairs were doable by me with little instruction I might be willing to tackle this job and save money on a contractor.

Elizabeth- this goes triple if you are managing the jobs...you now have to know what you AND your handyman do and do not know...you have to know when it's the end of the month and he is tight on money and wants to tackle a job he isn't qualified for and puts you in liability.