However, as we have learned during our time in the house the family had very little with a large family, all the work done was done by a do-it-yourselfer who obviously did not have the funds to do the simplest repairs with any amount of quality. 

., can be an inexpensive, easy visual improvement for a dated home, even if you use the simplest, cheapest ones and buy in bulk.There are a few topics on here to search for about hardening your rentals -- a very good read before you begin.

@D'Andre ByersHere’s some marriage/real estate advice.Learn to cook with the ingredients your wife gives you.Maybe she refuses to live in a fixer upper or duplex.

The economy is much more robust and there are plenty of areas to target specifically for student housing if that is a major ingredient in your investing model.

I've heard several strategies, but I'm looking for the simplest method or one that benefits the investor the most.Thanks for any suggestions!

You then can have one LLC for yourself (that buys the property) and then the private lender would provide all of the funds (as they have before) but they are getting a set interest rate (paid monthly or when you sell), while also having a mortgage against the property.Thanks Charles, I’ve wondered if this was the simplest approach and its seems so.

In its simplest form (one loan from one person on one note), brokering loans in CA does not involve the SEC or a securities license.

Development projects here in Houston are generally 1 year in length for the simplest ones just to get through city permitting then construction, as I'm sure you're well aware.

Skills and knowledge you simply can't have as a newbie are one ingredient, endurance and the willingsness and talent to deal with the weirdest people is another one. 

The key ingredient is work.