This totally would have been a deal breaker had I known before signing up, but now I'm too far into it to turn back, so I need to make something work.  

Real stone fireplace, quirky kitchen, a shower you could barely turn around in.

The first apartments I rented as the owner, were previously rented by the former owner at $150 month including utilities. 

The lessons you learned the hard way in 2008 will be invaluable now, and it’s great that you’re aiming to stay small-scale and within your comfort zone of Sacramento, which gives you an advantage of knowledge in that market.Given your experience, I'd say start by focusing on three key areas to build confidence and minimize risks:Budget Control: Over-renovating was one of the big mistakes you mentioned.

We did all of our turn overs, mowed all the lawns, shoveled all the snow, did all the painting.

It would likely be comparable to what you pay in the NE.Just google "Lexington County tax estimator" or whatever county you're interested in and you'll usually find a web tool from the County you can use to estimate the tax bill based on the previous year's assessments.There is also a law called the ATI tax exemption that can potentially lower than 6% rate by 25%.

I went from a 15 year loan to a 30 year loan, locked in my interest rate at 2.85%, pulled out $111K in equity, and lowed my monthly mortgage by $20 per month. 

I think it's about the best time there is to outside of the past to invest and acquire properties.I just recently found an article by Julie Taylor from realtor.com that was posted December 10th that has some predictions on housing markets where "Home Sales Are Set to Soar" with Colorado Springs listed as number 1 with expected YoY sales increase of 27.1% and Denver expected to increase 13.6% YoY quoting Christine Dupont-Patz who is a real estate agent in the Denver area. 

My taxes would have been done by the end of January if it weren't for their delay.

This is where real estate investing turns into a great area and on paper investment strategies seem great, but when applying them to reality, things can quickly change.