thanks for the guidance @Kaushik Sarkar Since it's development it will take longer to get to the exit. 3 years could be right depending on the market, if the project requires entitlements, how long it takes for permits, no major utility obstacles, etc.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

Majority of my clientele are out of state investors.

@Alex TangI just had a major fire in one of my rentals in December.

Major metros pose certain challenges, as everyone has heard. 

Personally If you like your current residence and hope to stay there long term I would forgo major improvements on my primary and use all investment savings to make you more money and cash flow. 

This is my first major rehab and I'm trying to be creative about stretching my budget.

Any major headaches that come with that?

I currently have a majority of my savings invested in the stock market but am looking to diversify into real estate and other ventures to achieve my financial goals.

The big pros are the strong job market (lots of major employers), good population growth, and still-reasonable entry prices.