Welcome to Biggerpockets, this is a great resource to connect with investors in the area and connect with people who are experienced in investing in real estate in different markets than they live in.

Even though the HUD program doesn't require you to be experienced, the program is truly created for a more experienced investor because of the cost and the structure of draws.If your loan amount is $1MM above you can go to Agency which does offer 5-year, 7-year, 10-year etc. fix with up to 30-year amortization.

Caveat, these are for experienced, but not licensed plumbers. 

The old flooring is no longer available, so we are looking at either replacing the flooring in one bedroom with something that doesn't match perfectly , or redoing the flooring in the entire apartment (except the bathroom and kitchen; I already replaced the kitchen floor with a luxury vinyl plank and we have ceramic tile in the bathroom).I would love to get a point of view from other experienced landlords about the possible monthly rent difference and caliber of tenant difference if I had a totally uniform floor in all rooms vs having something different in that one bedroom.

@David Bergmann check out our Columbia Meet up on 9/11https://www.biggerpockets.com/forums/521/topics/61...Come meet some experienced investors who may have more insight for you.  

Haven't experienced it yet but i've heard the most challenging deals are the best ones!

I hope this thread is useful to other beginners and experienced investors alike.All the Best,Stephen

I'm experienced in the area but have always sold them to normal everyday buyers.

Obviously, listen to an experienced contractor’s opinions and ideas, but You need to decide what you want/need done.

So much to watch out for, even as an experienced investor.