Spend more than half of your total working hours in an RE business in which you materially participate.2.

I would need to know more specs on the house but with material shortages It's difficult to say how much to budget. 80K-120K for full gut perhaps but unsure with lumber beings so expensive and shortages.I would plan 9 months of vacancy between the pain you will endure pulling permits & having your contractors show up everyday to complete the work & then final inspections to get a CO. 

It’s important to have a clear understanding of both hard and soft costs (labor, materials, permits, etc.) to assess your budget accurately.Projected Rental Income: Research the rental market in the area.

Many of your main TV companies won't pay a claim on a property vacant for more than 30 days.8) Renters Insurance: how are you going to get S8 tenant, who qualified for the program via a string of bad financial decisions, to pay for it?

With time management, sourcing materials and learning how to complete task on your own.

We have a clause in our lease that plumbing clogs not caused by mechanical/material defects in the plumbing will be charged to the tenant, and if your lease doesn't have similar I would recommend such a clause.

You'll want to be clear on the IRS rule for material participation if you do decided to switch to property manager. 

The contract must contain:the contractor’s name, address and telephone numberthe approximate start and completion date, including any contingencies that would change the completion datea description of the work to be performed and the materials to be provided to the consumer, including make; model number or any other identifying information; and the agreed-upon price for the work and materialsa notice advising you that you have three business days to cancel the contract, unless during an emergency you waive the right in writinga notice that all payments received by the contractor prior to completion of the contract work must be deposited in an escrow account

They don't guarantee it, but I did not see anywhere in the offering material or my investment agreement that they are deducting 2% from what is paid to investors.  

There is plenty of material to take a look at that will certainly help you on your investment journey.