For example, the stairway is not level and you would have to scrap the house and rebuild to live here.

If they work and the risk level is something you are comfortable with, go for it.

THEY ARE STEALING FROM YOU (remember your remark about him not even getting a fast food/entry level job? 

From using data to identify emerging markets to building tools that automate property analysis or management, your skills could really give you an edge.

Depending on your practice size and income level, you may just want to start with maxing out 401k and also adopting a defined benefit plan before committing to becoming a lifelong real estate investor.  

(Usually you cannot use prior employer history until you have been at your new job for 6 to 12 months, depending on the underwriter to show that you are maintaining the same level of bonus/overtime/commission income that you had at your prior employer).

Quote from @Jonathan Grzeszczyk: David Greene has a series (Sold, Skilled, Scale) that teaches agents how to run their business like a business.

The answer to this will come down to comfort level, funds available, and strategy you are looking to implement. 

I think the before vs after pictures really speak primarily to your experience and ability to execute a project so it can help lenders gain comfort with future projects and allow you demonstrate what level of detail you except out of your contractors.

@Chris Kay it depends what level of renovation you are doing!