How did you craft the timeline for this project?  

First thing that comes to my mind is add some cool amenities and decor from yesteryear, that would bring people back to their childhood memories.

If memory serves me correct, GC allows one to work on residential or commercial, while the HI only allows residential.I suggest you contact the licensing departments of each municipality you'll be working and gain a thorough understanding of the requirements if you wish to comply.Feel free to contact me anytime for more information.

So I jog the memory of them if I am looking.

If you do business in the future with family again I would suggest that you use a written agreement such as an OA to memorialize the agreement - it will likely save your relationship if there is hiccup as the terms of the agreement will guide both parties.

So I have great memories from Dayton!  

In my experience, inherited tenants don't usually work out for one reason or another.One deal we did springs to mind after reading your post.......we bought the house off the MLS from an OOS investor with a sitting tenant that has been there for many years (I don't know how many, but a lot).When we first took over we took care of a great deal of deferred maintenance, but we did not increase the rents. the tenant was paying about $600 if memory serves, and market rent for that house is $750 (I know because we leased it again last month).Anyway.... back to the original tenant...She always paid late, and was very insistent that it was OK to do so because that's what the old landlord let her do.This back and forth went on for a while, and in the end she left under  cloud, angry at us for insisting that she pay on time.I've had similar situations time and time again with inherited tenants, and it seems that the closer their relationship with the previous landlord, the more quickly they'll end up leaving.

Not to mention a lot of the GC's post 08 went banko out here in the West  and in the south  so banks have long memory they wont loan to those same GC's again. 

So @Randy Stewart  while the valley is saturated with investors, you just need to be better at your craft and leave them behind.So for those so called AZ "wholesalers" reading this, Dick contacted me and is working a deal in my backyard, and if the numbers make sense I will or one of the investors in my group will buy it.

During that year, as you're learning more and more, you'll be in a better position to craft an investment plan, review it, and hone it to something that makes better sense.And I agree with @Howard Abell that the last thing I would do would be to pay off the brand new mortgage on your primary residence.