My only concern on this older house was leaks and the path jobs done before me were very poor.

Many times I have discovered this beautiful oak flooring (ok, oak is still ugly but so durable) as the subfloor in these older houses.

Luckily I had $40,000 factored in to my numbers before purchasing (based on a couple of estimates)...and after purchase was able to find a contractor at the end of the season that was hungry and working another job nearby. 

But if you both go in on all deals together on paper, you're capped at 10 between the two of you, and then you have to start using sub-optimal financing.If you get the primary residence in just Spouse A's name, often Spouse B can qualify for investment property financing regardless of Spouse B's day-job income, provided it cashflows and the down payment funds are seasoned in an account with Spouse B's name on it.

If possible, team up with a seasoned investor..............Good Luck!

Events like to hype people up and then get them to call their credit card companies to increase limits etc. in the back of the room.You likely will be much better off going to your local real estate investment association and offering to take a seasoned investor who is successful in your market out to a nice lunch or dinner on you.

- How will seasonality affect occupancy and pricing?

Casino sometimes offer good deals during slow season.  

you could rent the place for 6 months until its "seasoned" and the bank will not hit you with that mortgage, after the refi- you can keep or sell.

But if the building has just been rehabbed, expenses should be lower, if its older and neglected then expenses are higher.Why are you waiting until next year?