My joy is that you have learnt your lessons and hopefully, you will not cross this bridge twice.For me, I am not a builder, and I dont rehab....I do not have comparative advantage and the skills to do that..I will rather leave that for the experts.... my time is too precious for me to spend lifting bricks......more over, it becomes another JOB for me.....I rather take a low return with peace of mind while watching my son play basketball games that sweat through 25%.

Also keep in mind appreciation is pure speculation that may not pay off.I would also not place any value on the tenants only the rent.

The pure S corp issue that @Jerry W. is talking about is one of those outlier scenarios.  

Some details on the houses:Primary residenceMortgage is a 15 year mortgage (with a 3.5% interest rate), so my payment is a bit higher than if I had bought it as a pure rental.

@Dmitriy Fomichenko Thanks - I am hoping to not have to tackle the AC unit during the initial renovation process purely due to the cost.  

There are some lead generators that are pure online tec businesses but as the online world has evolved and the BMV sourcing game has become more and more popular the lead generation cost has risen to an excessive level.If you are looking for a deal for you in your local area I would look at postcode credit worthiness and letting demand and look to market directly if I had time.

I'm hoping to learn more mainly about:* Out of state opportunities for pure investment.

The answer is purely intellectual.....Money.Have your MIL offer cash for keys by telling him she will forgive the rent and return the deposit in full if he will vacate the property as soon as possible and without any trouble.If necessary,offer more money on top of the deposit return to help him pay for moving and into another place.This clown is a ticking time bomb with nothing to lose and will destroy the property if challenged harshly so tell her to smile big and be sympathetic to his divorce troubles and help him get the hell out asap.

Make sure to open a bank account purely for your Real Estate.

This is pure negligence by messing with the toilet, then dropping objects on it to boot.