And also as Paul mentioned if you have that much capital it might be better off to just do smaller deals and start on your own with hard money or conventional financing.

Next look at condition of the building, nothing like ripping out plumbing, HVAC repairs, etc due to age.

I didn't mention it in my first post but I no longer live in the rental unit.  

That would be for a licensed Electrician as @Tyler Amburgy mentioned, i would not recommend doing it as a DIY project, have a licensed electrician do it with all the proper inspections, helps to free you from liability should anything happen ( even though a lawyer will always find ways to get to you - no offense to any lawyers out there ) I am a contractor but i do not do any work on my rental properties or flips, i always hire local contractors in the area.

This gets you 50 % of where you want to be, while simultaneously apprecating in value, not to mention the tax shelters that would become a major benefit to offset your income.

As @Salvatore Lentini mentioned Craigslist, local REIAs and some commercial brokers.  

If that is allowable, then make mention of that in the letter as well.

Not to mention the sound water being freezing!

Sorry I missed the mentions.....If you do not have a personal relationship with the grantor (married, family, business partner) Never buy a property using a quit claim deed except from an insured lending institution.Sub-to you use a special warranty deed or equivalent in your state, warranty is granted subject to underlying financing. 

Saving has worked for me up to this point and I don't think I'll ever pull back, but in order to get started investing now (or at age 24), I will need to implement a strategy very soon.