@Dennis M. the screen is torn right where the screen meets the frame on the floor level.

I want to take my self education to the next level.

My two greatest challenges to start this journey seems to be to first convince my wife to support the idea and second to dear to do the first investment. 

Gotta have your personal finances at the right level and gotta have enough saved to actually buy something. 

Him and his partner are splitting up and are needing to sell their house quickly. i already determined the level of motivation, arv, comps, potential repairs, and have yet to offer him a price yet.I pitched the idea that i can potentially close him out in cash by the end of the year and he is all for it. their original plan was to put it on market but they of course do not want to wait for the market. 

Those don’t make any money when you take into account the higher cost of the machines, but they do keep usage at a reasonable level. 

Clearly your level of demand for housing in the heart of San Jose is going to be a lot higher, the demographics are more favorable, and the pricing is going to be a lot higher.

While these rates aren't the greatest they do provide you with the highest return and greatest flexibility.If you have any concerns about being tempted to access your money, you could also do a bond or CD ladder. 

I am currently working on a house on the water  tear down and rebuild  , We have had lots of rain and its also 4 ft above sea level .  

If a "few" years means 10 years, this would be an investment that I shouldn't have made in the first place (i.e. the IRR is far below my RROR comfort level).Note:- Cap rate is irrelevant in this case, if this property is a true multifamily then cap rate can be used to estimate your exit price, but you already know it (i.e. 200k).