Might in that if this is simply a deal that's on the MLS and all you've done is point it out to me, I wouldn't pay you anything. 

This all depends on the loan factors like Credit score, LTV, DSCR ratio (rents vs the PITI payment), and loan size.Good news rates are down but the other positive news is they are trending down and that means you can pull cash out now and then simply refinance in 12 months or more to lower the rate.

The squatters threatened the landscape  personnel who were simply trimming trees which were objectively hazardous.  

Those folks simply can't be relied upon to relay inquiries, showing requests, etc or to put your best foot forward.  

Instead of them performing a general assessment which is cheaper they chose to do an inspection which is more invasive and discovered that the porch needed to be scraped and repainted which was something that was never addressed in their general walkthrough and inspection of the home after the renovations and incurring more costs. 

I'm definitely the "play it safe" type, which is why the buy-and-hold strategy appeals to me, and because this is all new to me I want to "start off slow", but I am open to hearing thoughts on other options I could consider as well.Put simply, if you were in my shoes, what would you do with that capital and now with one property under your name (if buy-and-hold is the most appealing strategy to you)?

Or simply prospects?

Also, as both NC houses are paid for, is it a better idea to simply cash flow post-rehab or sell? 

I figure that everyone has a cellphone these days and if a guest drops by then they can simply call the tenant when they have arrived to be let in.

Or would it be better to simply partner with them, they are friends of mine, with the repairs for a percentage of the profit?