Looks to be enough room to make money but just be sure you're very confident in the comps in the area the property is in. 

Will this be a good investment time and money wise?

Obviously it will cost money, get some quotes.

If you're planning to rehab properties for rental or flipping, a hard money lender might be the right fit.

Collateralized Private Loan – Some private money lenders (PMLs) may allow you to pledge one of your properties as collateral for a short-term loan. 4.

I would also share pros and cons of paying taxes on the windfall versus owner carry.

Line Item Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $500 Business Hour Service Calls $80/hour + Materials Cost + Tax After Hour Service Calls $110/hour + Materials Cost + Tax HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Vendor Cost + 10% Oversight Fee

My tenants just notified me that their unit got broken into and money was stolen.

Dig deep into tax strategy, tax efficiency, etc  Learn about estate planning. 

As someone mentioned, the only thing passive about real estate investing is the tax treatment.