I recommend you speak with a lender about reviewing whether you could qualify for a loan prior to making an offer, as I've seen these kinds of things blow up.

Success doesn’t come overnight, but if you stay focused and keep pushing forward, the results will blow your mind.Education without execution is just plain entertainment. 

My contractor mentioned he might've left them since he felt bad about up and leaving the job. 

Great job!!

If IRS finds out you are doing that, you would blow up your IRA and pay massive penalties.

If I put all of my eggs in one basket (Florida in this case), paid off property and a hurricane blows everything away, FEMA is nowhere to be found and the insurance companies take years to pay what little claims they actually do pay, I suffer through it in a blown out house.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Possibly a good move, IF you don’t blow the investment or IF the investment doesn’t blow up.  

I'm really busy with my w2 job working all the time to fund my investments. 

It's hard to say offer amount without knowing the rehab part since that could blow this out the water.