Thank you, @aaronMontague for your honest and expert thoughts. you've actually given me something to think about when it comes to whether keeping the property or flipping it.

I am just starting on this RE investment path and I was hoping the rehab experts can assist.

We had the feeling that our job was to be ‘investors’… This project taught us that we enjoy the day to day work – we are not experts, so the things we do ourselves is limited but finishing the paint & doing other simple tasks saved us about $6,000 & got the project to market 2 & ½ weeks early.

I have a colleague at work that did the same thing with taking out the 401k loanI’m not a financial expert, but I think it’s a good idea for someone that’s younger, has decent job security, and is planning on continuing to work at the same job for the next 5 years.

Always good to invest in multiple economic sectors.As long as you are buying duplexes and larger, you won't have issues with vacancy and you'll be able to pay the mortgages.

If the market doesn't demand hardwood, and it won't punish you for X or Y different flooring, then go with the most economical choice that the market is likely to accept. 

I'm by no means an expert RE investor, but believe me it can be a life changer.

This has been predicted by many, many "experts" in the field for some time (I believe we might be on our 3rd or 4th decade...I lost track). 

@Patricia Steiner nailed the failed economics of it but it's over their heads.  

Choose a specific area and become more of an expert in that area.