While it's okay to be honest and upfront with people about risks and challenges, there is no need to damper their spirits and provide that doubt in their mind that they cannot do it.My market (in minnesota) has been pretty competitive lately and coming across great deals is a bit challenging.

I'd rather be a little late than speculate on how the market will react to all of these changes .

I'm 22 and was just as eager when was l in college but I figured just to finish school, learn as much as possible about real estate, meet as many people as possible, and enjoy the 4 years in college.

I will be doing around 20,000 in renovations and renting out once finished. 

Here’s a finished flip property a few blocks away from the one you’re looking at:  https://www.redfin.com/WA/Tacoma/227-S-38th-St-98418/home/2962336You could probably rent as-is, but would likely get lower rents and tenants. 

How much time did it take you to complete this task start to finish?  

the absolute norm when dealing with contractorsmost won't bother to even get you a bid most of the rest will bid and agree to work, then no-showof those, half will show up late or half drunk and do shoddy work the ones that do really good work and are professional are holding out for larger jobsWhen you find a great contractor, just go ahead and kidnap him, Hold himin a basement until Stockholm syndrome sets in and he is happy to work on your projects.

Just finished “Leverage your IRA” by Matthew Allen amongst others.

I know where the water is getting in and have a sump pump taking care of it, however if there is any finishes in the basement, they need to be removed up well past any water intrusion.

If you see it on Zillow it is already going to be too late.