It would help if you studied how your home compares to others and ensured it is priced right.

@Harsh PoshtiThis will be dependent on the area and I would recommend you perform a market study to determine which project would yield better results and if either is even viable.

Get a no-cost estimate for an engineering-based cost segregation study on every investment property you own over $250K in purchase price.

Studying for and receiving the CCIM designation will be a solid plus.  

I fold the letter, stuff it and place the precancelled stamp on it at a rate of 94 envelopes per hour.....takes forever.Add in screw ups (see my post about 3000 yellow letters down the drain) and you have yourself a time consuming, repetitive, completely boring endeavor.If you plan on sending a few hundred a month you can swing it on your own but if your time is worth anything you'll outsource.  

Please study engineering and you’ll have more of a grasp of why measuring amperes (electricity) or volume (water or natural gas) lends itself to reasonable precision.  

For the first part of your question even if you were working with a realtor, I don't personally know many that have a true pulse on rehab costs and I wouldn't make any investment decisions based on their rehab cost projections.My suggestion would be to study how to evaluate the Big 6 rehab costs: roof, siding, windows, HVAC, electrical, and plumbing. 

Financing is definitely an area that I will need more study.

If you study the economics of this industry, you'll see that it's very much like a sports team.  1% makes most of the money, then a small 2nd tier of agents do some transactions and a majority of the rest do nothing. 

Night Before the Exam dot com is a good state study test if they have it for your state.To be clear though, the majority of what you learn in the class is not used by residential real estate agents in practice.