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I know that some of the institutional investors are going in selling mode right now but the pricing would be so high, us a little guys have no hope unless we pool together resources and even then...What I'd like to see is a retail outlet aimed at the smaller investor's like us.

Looks to be from an old outlet or something.

It also needs some electrical outlets fixed and possibly rewired... maybe even the house needs rewired since it was last done in the 70's.

"Hey can you move that outlet to the right two feet?" 

If this doesn't work out, let me know I have a great RE attorneyBest of luck in the transition

5. 2 prong electrical outlets (I think this really shows how old the house is, among some other things)*Side question: Do we need an electrician to change out the outlets or is this something can be DIY'dMy real big burning questions is whether this might be something good to start out with as this will be our very first investment ever.

Where I live you can find a sears outlet or any appliance outlet store that sells "damaged during shipping" and is marked down. 

But the time finally came when he needed to grow up and move out. Let

Get some bids, they can fish the romax through the existing holes, change the boxes and outlets easily, you'll have a problem with brick or stone.