I have been told over and over that physicians are notoriously bad with money and before I start investing I want to pull myself out of the "bad" category and at least into the "mediocre" category or better. 

Ask yourself, how bad can the neighborhood be if houses will sell for that price point?

We believe his initial may not be bad and but he became greedy when so many people were affected by his podcasts and find him to buy properties.It is kind of hungry strategy.

Because I've been there - more times than I care to admit.The hardly waits will cost you money and you'll make (most often) bad decisions, because your judgment is clouded by your intense dislike of your current situation. 

I’ve done some calculations including all those expenses and as long as we don’t make a bad deal financing wise we could be netting 1800 Every month with about 60 in rev a year.

If you do invest in notes however I would recommend having at least some financial reserves in case things go badly.  

Given the housing shortage/demand, might not be a bad idea.

And the interest rates aren’t bad.

;  It's my partner's and my first major deal, and it is out of state so don't tear me up too bad :-)Thanks!

One rule you can use is the 70% rule,  which says that you should only pay 70% of the after repair value minus costs,  In this case applying that rule means that you should pay  (70% of 140K) -80K = 18K Personally I think that you might be able justify a little more than that like an 80% rule but you are buying it at 100=% and thats a bad idea