Once you get that, shop around skilled laborers to do the floors, and most of the other cosmetic work you could probably do yourself.

With experience comes a broad understanding, finesse, and skill, all of which I'm sure you exercise in these situations.

Like Chris mentioned above, Starbucks' in the area, trendy restaurants, art galleries, "hipsters" are things that I'm seeing in Chicago neighborhoods that are transitioning. 

:Originally posted by @Art Allen:@Jay Y. 

What are the first skills one should obtain to get started?

They will teach you techniques and skill that is worth more than 10,000s of dollar. 

You might want to meet me at Joe's  Squares Pizza on North Avenue, I have an art show up at this time; all sales go to charity, The Smile Train. www.auctions.investorsunited.comI may be able to give you some ideas on investing since I have been playing this crazy real estate game now for about 40 years.Real estate and the business of real estate is the greatest business in the world.No need for inventory.The government gives you lots of perksYou can make a million dollars with almost no moneyNo employeesThere are hundreds of thousands of sellers who want out of their real estate in the USYou have great tools (more than I had when I started 48 years ago)The internet, faxes, cell phone (both dumb and smart phones), real estate agents who will work all day for nothing until they sell something, MLSOh!

So its all OPM and their skill or hopefully they are skilledso I think what @Joe Schaak is saying is the 130k would be the down stroke the HML wants and the rehab funds.If the deal pans out correctly this is a very nice financial play for Joe. 

I generally hire for personal quality construct so long as the basic skills of the position are there.

Your USP will likely evolve as your dynamic experiences reveal your natural talents, skills and expertise.For example, I never intended to become a probate expert but rather use my foreclosure and title expertise in the legal community.