I agree with Jack, you definitely have to look at the neighborhood in a deep way, not just the rent prices. 

We have received insurance proceeds and are also planning to sell the fire damaged property at a deep discount Can we use 1033 exchange tax deferral for the proceeds from the Insurance and sale of fire damaged property? 

We have received insurance proceeds and are also planning to sell the fire damaged property at a deep discount Can we use 1033 exchange tax deferral for the proceeds from the Insurance and sale of fire damaged property?

A lot of investors are making there tenant "buyers" responsible for repairs but if issues arise and the tenants seek legal consult you can get in some deep trouble. 

Auto shops just need a deep cleaning.

Can you partner with someone with more experience and sell them half and that would relieve 1/2 the pressure on you? 

This has motivated the seller to accept my deep discounted offer, for which I'm willing to do some of the heavy lifting.I'm interested in truncating the wait time as well as avoid a possible eviction process after the 60 days is up.

You need to really figure out what product type and then do a deep dive into the market to see if it is even feasible. 

If you want to go into the deep end of multifamily investing Brian Murray has a great book Crushing It in Apartments and Commercial Real Estate: How a Small Investor Can Make It Big. 

Honestly I read the book and I took from it just dive deep into the market your targeting and drink deep.