: Patience💡 What upgrades are actually worth the money right now?

Use that sales money to buy more stock. 

However since this is our first rental, we are getting cold feet and suspicion that it might be a money pit or go wrong drastically.

In general, parking is one of those things that is not exactly fun to deal with, but it makes a ton of money.

Find the money and find the deals.

At least you'll probably get most of your money back when the deal gets refinanced or sold.

The approach involves using a hard money lender (HML) to fund 75% of the purchase price while having the seller carry back 25% in a second-position loan, allowing you to flip the property with little money down.

I love what @Greg Scott said about deploying larger chunks of money and level of effort required.

If at some point it just takes too much of your time or energy you can always turn over to PM to manage.If you think you will buy 4 this year, then that might save you enough money to buy a 5th.While I think it is great to have plans and goals, I will say most of my good and active investors target one a year. 

You mean I have to spend money on the place after I buy it?