How should I tackle the order of rehab?

They can do a google search for stats and facts.Stop selling, stop acting like everything is easier than it actually is, and do the blocking and tackling of helping green and naïve investors.

With experience, you will be able to tackle more complex transactions/constructions.

Well, considering you new I think trying to tackle apartment buildings with creative financing is something thats way over your head and not for a new investor.

It's accurate regarding what you're going to confront if you tackle credit repair yourself--which you should because no one can do it better than you can.

One of the risks I see is that there may be a lot of deferred maintenance (you mentioned it was last updated about 20 years ago) and with this low rents of ~$400/month per unit including utilities, you may not have enough room to tackle significant short term capital improvements.

We bring beverages, snacks and people together to tackle a compelling investment topic.Happy investing!

"Mom and pop" investors aren't going anywhere no matter what they tell you, and you don't need to spend $20, $50, $100, or $1000 a month on some guru's course to learn that.Do a search on the forums and the BiggerPockets Blog for "hedge funds" and you'll find plenty of great discussion and fantastic articles that will prove to be helpful to you on the topic.Otherwise, your post tackles two different topics -- hedge funds pushing out investors and the fiscal cliff.

I started listening to the BP podcast, joined the website and have begun to take my education about investing more seriously before I tackle project number two and beyond. 

Few ways to tackle this:First is travel to the unit and do it yourself.