One of my connections will fund the rehab for less and give it all to us on the upfront to finish the project at a lower cost.

Do not rely on your subcontractors to know/perform the code correctly for your area.

Do you use a lot of TikTok in your business?

Firstly, do you manage your own property or do manage mix of your own plus clients' property?

Once you're ready, create a goal (e.g., "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it.

I know it's in the works, but we would be ready to subscribe and pay once that is finished, provided we don't come across something else that meets our needs in the meantime.

Your income isn't high enough for it to make sense as a rental and the closer you get to your residence limit the greater pressure you will have to sell it before losing your exclusion in whole or part. 500k right now can make $15k per year income with zero maintenance or tenant risks. 

I am always trying to learn how to do better in this type of space. 

Since you are not doing super high end finishes as mentioned, doing high end flooring and all other stuff just above builder grade does not warrant tile or full wood flooring. 

Are you looking to do more of these type of projects?