Consider the effects of color  - dark will darken the room even though it looks classy and, if it gets nicks, the scratches will show the nicks more than a light color (same thing for cabinets). 

Taking a shot in the dark before I read any comments, to see where my own head is at regarding investor psychology.With the 1 unit already rented, it looks like your coming out of pocket $1,150/month.Plus $1,400 in SL and Car NoteYou have $20k in free cash that's not currently earning anything, but has the potential to earn $1,300/month or $15,600/year.That would mean your RR on the $20k would be 78% if you do the necessary upgrades to rent the 3rd unit.The $1,300/month also means you'd be living rent free with a cash flow of $150/month.

I would look to areas much more afordable for your first couple of investments after your own home to minimize your risk while getting your feet wet.

I have a few low value REO's in a portfolio in a few different states that I am looking to liquidate to minimize losses, anyone know of any creative ways I can get these off?

@Cody Zimmer, yes, the main reason people create entities is to minimize liability.

The business seems much larger, since there is 17 locations in the area and was told there are thousands of offices nationwide...Commission:level 1: $0-$25k 60%level 2: $25k-50k 65%level 3: 50k-70k 70%level 4: 70k-100k 75%level 5: 100k-150k 80%level 6: 150k-175k 85%Level 7: 175k +     90%Fees:$300/yr, E/O insurance$100, new agent setup fee$75/mth, marketing fee$72/per 1000 business cards$18/per name badge$225, FAR/NAR Membership initiation fee$460/yr FAR/NAR annual membership dues$90, MLS setup fee$350/yr MLS annual membership dues$50, supra key setup fee$275/yr, Supra key annual membership dues$110, lockbox purchaseFlorida Luxury Realty from the beginning was kinda hidden off the road, the office is hidden in the back of a business complex in regards to the one office i specifically went to, its very clean and professional looking, just the office overall is not very lit up or fresh looking...and when i dropped in there was noone at the location outside of the clerical person at the front desk from what i could tell, most of the office was completely dark...

You can minimize your mailing cost by removing bad addresses from your list. 

Edit: Unsure if this is best suited in Starting Out, or Investor Psychology...My wife and I are pretty new to this whole thing, and we have a lot to learn. We currently have 1 unit and it's working well for now. As we...

Do a light/dark with chair rail and wainscoting.

By doing so you will get much better returns on your money compared to what you been getting over the last few years and you will also minimize your risk since your investment will be secured by real estate.