After all expenses my NOI is between $13,000 and $14,000 in the first year, with it charting upwards in each subsequent year.

When the home was subsequently heated & ready to inspect the appliances were run again & water leaked everywhere & each appliance required new components. 

Subsequent appraisal afterwords confirmed my original CMA was correct.

Can't wait to hear more from you and about your subsequent successes.

Then if I find that it is so simple i can do it myself or it's not worth the money, I'll do it myself on the subsequent times.

I have a post here on BP that goes over how your DEALS will go up over time with subsequent mailings.

If you can find a home that you can buy significantly under market and you can subsequently rent it profitably at under market rates you may do quite well.

I understand that California will claw-back the gain should you subsequently complete a final sale (without performing another 1031 exchange). 

After the completion, and subsequent closing, of the new home we are wanting to purchase our first investment property.I am very excited to have come across BP and have learned a ton from the site so far.  

If this deal takes you out of the running for subsequent projects because you paid all cash your opportunity cost is pretty high.