I cannot stress the importance of having high quality 'eyes and ears' on the ground. 

Long story short, I just finished and sold my last rehab project, which was quite stressful as I over extended myself on time and resources, and my husband and I are expecting a baby in June, and I need a break.

Just expect that and dont be stressed by it The hardest part is finding the right contractor.

At 10M and more, it is more appropriate to use a stress testing model to eliminate or assume bad debts and look at coverage ratios, liquidity assumptions, you'll see that if certain loans go sour there are different effects on the portfolio and from there you can adjust to the risk perceived.

No amount of ROI is worth massive amounts of headaches and stress.

If you're going to stress about things that go wrong, you probably want to steer clear of risky investments.No one can universally stomach these considerations and everyone has a tipping point.  

Lower-ROI turnkey properties in A/B neighborhoods (where you just cash a check every month) is going to take more properties but less time/effort/stress/etc.

There were days where I was catatonic and physically ill from stress. 

Depending upon your background it may be a very stressful first project.

REI is a fun and stressful adventure.