Some might urge one to not be afraid of leverage (taking onmore debt); that is, it is a tool to help you grow (also deductible, enhances returns, still low interest; and a-ok when used prudently);Others might lean to the Dave Ramsey angle that debt should be avoided (although easy for a deca- millionaire to say cash flow your real estate purchases and buy all cash all the time).That said, based on your ability to save and live free (and being in a fairly affordable market) I might try and simply save a couple of years for the down payment on #2.

By encouraging everyone to work together it has only enhanced everyone's business 

Since I am planning to get all this done remotely as well, without me gonig there, I am looking for a really good home inspector who can inspect and let me know all the high and medium priority fix/rehab which enhances the value of the property.

Just an update: having my GC clean/spray the basement with a bleach/comparable solution this sunday, adding another 2 coats of dry-lok (already had 2 coats previously) and going to enhance the grading with more soil around the foundation, and add in a dehumidifier.

I've received non-audited financials, walked through (but not fully inspected with my team) the property, and am massaging the purchase price in my spreadsheets down to the point to get me a cap rate of 10.

It seems that I should focus on what historically works (making meaningful connections with my SOI and beyond) and to spend money on marketing that enhances those efforts.

Another thought was to keep one of the units with the walls and just upfit it for a Salon and then rent out each room separately to hair dressers, nail business, massage business, tanning business, etc. 

The city knows that a team of professionals are working to enhance the neighborhood, and community in a way that makes the internal processes for the permitting department as easy as possible.

If you are aware that the tenant is not operating a home business but simply performing the functions of his job while inside his home (and this does not involve increased traffic, paying customers, commercial enhancments made to the unit), why would a landlord be concerned, as long as the tenant is paying the rent on time?

I'm interested in finding mentors, lenders, and real estate investing contacts in the area, to enhance my networking.