This intrigues us the most and would ideally be where we focused our time and energy (i.e. why wouldn't we just target 3/2s in Vestavia Hills?).

sell the properties - you mentioned being burned out on them, I don't know that a property management company will make it that much better for you.

There is a lot in my neighborhood that had a house that burned down in 2007.

If you dont properly vet your team you can get burned quickly and badly!

As a lender, most transactions go as planned and most borrowers are honest, but the bad apples, looking to end up in jail, take all the time and energy.

You're gonna get burned very bad if you don't properly educate yourself and you will lose money..."

Apparently he lost a property in the mid 80's, while he was  holding a 2nd and he doesn't want to get burned again.  

The seller is motivated (burned out landlord), just not sure yet how motivated.

@Sunny Burns would the bank be will to negotiate a credit for any of the repairs?

I was at a remodelers meeting at the Alliant Energy Center a few years back and a kitchen designer told a story of how she is still doing oak kitchens when everyone else in the country is using other woods.