I understand that note buyers like getting nice double digit yields plus kickers on notes, but at this point I am more concerned about learning the business by doing and building relationships rather than maximizing profit.I have been listening to a lot of podcasts on notes and got quite a lot out of this post- https://www.biggerpockets.com/forums/70/topics/411915-where-to-find-education-on-notesI’ve checked out some of the paid and unpaid educational stuff listed here, but I think all of them end with the same advice- Find a JV Partner and pull the trigger.

@Chris Baker  There is a water heater pipe which has asbestos and apparently the dry wall had some in it as well.  

This technically will trigger a due on sale clause in the mortgage agreement ( if the mortgage has one ) however most lenders probably will not enforce any loan accelerations. 

I'd be careful making cash flow vs appreciation that cut and dry.

Dry the area well.

Or should I keep my powder dry and save up cash to pick up multiple deals in a year or two once the market softens or corrects? 

If your LLC has no track record, lenders will not extend a loan.Buying as a married couple and transferring to an LLC can trigger the due on sale clause of your loan.I always went with the initial route, owner occupied mortgage.

On the flip side, I don't want to give the impression I'm a hothead who's quick on the trigger and thus scare off contractors who may fear that I'm unreasonable.Frank Romine  this is an approximately 130k rehab.

We list critical mileposts that will trigger inspections and also draws.

I'd still walk the area and talk to a few people before you pull the trigger.