Risk is minimized due to the amount of rents, property condition, property price, and location.

There's no point in putting in so much time and effort for the minimal monthly cashflow of a BRRR property.

Probably a little better fit than Mint since there are no ads and minimal cost with some better features. 

Since you and your wife have renovation skills, targeting properties that need minor improvements can maximize your return on investment while minimizing the time and cost associated with major renovations.

This minimizes risk and lets you build confidence as you gain more experience.

Start small by buying a duplex or single-family home with minimal renovation and in good rental areas.

However:Capital gains taxes can be minimized through deductions like rehab expenses, holding costs, and agent fees.Alternatively, if you decide to keep the Mooresville house and rent it out, you could potentially defer capital gains taxes through a 1031 exchange, but this only applies to investment properties (not primary residences).

We have minimal resources as far as money goes, but we have a relatively long list of upgrades (window treatments, hardware, light fixtures, paint, etc).

The hope is the tenant does not move and the older house that had minimal repairs will not fall apart anytime soon.So an old house with minimal repairs to it, questionable areas to invest in, and tenants that tend to live hard in the spaces can be a recipe for disaster. 

Of course, many investors bend/break this rule, but that's another risk.2) If your bid wins the foreclosure auction, you then have to deal with getting rid of any occupants - who may steal/damage everything they can in retaliation:(3) You MUST have a great crew on the ground that can minimize surprises - not easy to do on your first deal.Regardless if you buy a foreclosure or other property, read our copy & paste advice below:-----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?