But, they had cash flow so I was under no pressure to sell.   5,6, 8, 10 years later, they recovered all the value plus. 

Pro -  You have no mortgage obligation every month so there is no need to freak out every month  a tenant is late with the rent.Pro - You have no mortgage obligation every month so there you don't feel pressured to rush to fill a vacancy with an unsuitable tenant.Con - You have no mortgage obligation every month so there is less of a tax write off and you are more likely to pay more taxes on your rental income.

The US isn't perfect, but we aren't on the verge of a coup or imprisoning journalist wholesale so that lends an air of perceived stability.

Any ideas on how I could rent out the space in the backyard if not for a party or air bnb?

This is poor and toxic behavior imo  the fact is though, that S8 are just people no different than anyone else, some are wasting air while most are outstanding humans.

There's an O.H. this weekend and feel a tad bit of pressure as to making an offer.

Think of it this way:Snag a house in the hottest market in the country --> pain to finance (HML or otherwise) ---> can't/barely afford payments ---> try to hurry the fix n' flip process ---> make rookie mistakes under pressure ---> waste time, money and resources.Either your mentor is ripping you off OR you did not understand his system by asking the right questions.

This is inclusive of disposal fees, permits to remove, air studies, etc etc. 

You can have a plumber do an air pressure test.You could also budget for plumbing repairs and work that into your contract price.Or you could just wing it!

I love my job in the Air Force and plan to continue serving my country, but I would like to own my own real estate investment business with a construction/home improvement branch.