Is there a book I can read or a podcast I can listen to that breaks down the steps for a rehab - starting with how to pick a contractor, how to prepare a SOW, what are the steps in the rehab (ie first you fix the roof, foundation , windows and exterior doors and then plumbing, etc.) , what work can be done at the same time (ie plumbing and electrical) etc.   

The appealing aspect here is the ongoing population growth and other economic factors.

Hardwoods are beautiful if well maintained, but I have yet to meet a tenant who really cares about the maintenance aspect of wood floors.

The one aspect that I haven't seen mentioned so far is that you can keep doing 5% down over and over again, too.

A short time after a hurricane blew some shingles off the roof and caused a leak.

However your returns are probably even lower if you factor in upcoming major expenses like an hvac or roof replacement.It really depends on your goals. 

If you're good with these numbers, get a house inspection to find out if there are any other problems with the roof, foundation, HVAC, etc.Lastly, keep in mind that a big job like renovation is much more difficult if you're living in the house while work is being done - doubly so if you're doing the work yourself while living there.All the best with it!

Why are you buying where the neighboring buildings don’t have roofs?

I believe they stopped using knob and tube wiring sometime in the 40s.Roof - Of course in that amount of years, most likely the roof has been replaced at least a couple times, but this is also a big ticket items to look closely at.Plumbing - I think it was sometime in the 80s when PVC pipes were starting to be widely used.  

Some investors want a truly hands-off approach, and in that case the more units under one roof, the better.