The Board therefore believes it prudent to proceed cautiously at this time.

As a former planning commissioner the people AGAINST projects are the loudest so you want to make sure you have a good pulse on what your neighbors and the louder people at public hearings stand so you can be prepared ahead of time. 

I'd say the logical paradigm in the question is a bit off.CRE includes everything from airports to golf courses to hospitals to campgrounds.So saying "residential versus commercial" is like saying "bacon versus plant life."

Needs all new cabintry, windows, doors, roof (has some life left), fixtures, fencing, some electrical and plumbing changes, and some framing/drywall due to termite damaged sill plate in areas.

Almost any time I want to learn something new I can locate a book or two or three on the subject and spend very little money to broaden my horizons.

The other thing could be tracking what you have had come up on the last 5-10 projects after closing, i.e. the water heater was at the end of life when we bought the last 6 out of the last 10 properties.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

Fail forward is generally just great life advice. 

I would buy in the best area you can afford, to hopefully get appreciation over time.

What is the societal value of driving down rents over time?