@J Peterson if you have no experience in building and no experience in being a Landlord, why tackle both at once?

That gives you both rental victory and firepower to tackle the next biggest debt, and so on.

I’m saying depending on there experience and the severity of the fire damage some investors might not want to tackle the project .

If you've got the know-how to tackle a project and/or crew to do the work, it's possible.

I'd love to hear how you are preparing to invest out of state and tackle some of the issues that may arise trying to invest at our age.

Partner with a developer and either take either route 1. or 2. presented above.As a first time developer, my advice would be to partner with a developer (with the help of a capable and experienced real estate lawyer) and sell the serviced lots to a third-party builder because you can: (a) learn the business from an experienced developer (b) take advantage of your partner's relationships within the industry (c) build your reputation and relationships among those in the real estate community (d) obtain financing easier (lenders are more reluctant to lend to first time developers/borrowers) (e) focus on learning the development side before you tackle the house construction side. 

of course nobody would help because this is so trivial issue LOLI got all sort of problem when I'm in vacation and house has issue much worse than this but I tackled most of the problem because I do have a plan.For example, if the roof is falling I need to call this number.

Labor costs could go down if the federal government tackled immigration.  

You might try tackling each subject separately.

You're taking the right steps and eye balling it clearly, but tackling a $100k rehab on the first property is big risk.