I'm happy to connect though, and see if there is any way we could help each other.I think @Basit Siddiqi is correct that sharing a little about your skill set would help elicit more responses.

I have family and friends with skills and connections that would make getting started much smoother, and we are there throughout the year.

If anyone have any special skills and experiences to assist me in laying out the foundation I need to move in that direction I appreciate you!

Timing might be right, people need to live somewhere, why not at your house, the one you just creatively controlled and negotiated a giant discount on  an IRR of 37%.Baltimore is on the crap list now to many who listen to nay seers , but folks need housing, businesses need space, sellers need end results; Timing  may be right if you are smart enough to see thru the crap that is going on and learn the secrets of creative financing negotiating skills, assignments and creative ways to insert yourself in the chain of title.

Unless you want to be a general contractor or have an equally skilled brother-in-law, it's better to buy something turn-key and hire a manager if you're already busy.You won't get the max return like people that do the BRRRRRR thing, but that takes sweat equity and time locating and fixing a property.If you do hire a manager, understand the operating numbers since you need to make decisions.  

Ultimately, you may not have an additional tax if you have expenses more than income.If you have income, you pay roughly the state with the higher tax rate.If you have a promissory note, unless it gets to the level of a trade or business, you may not have an additional state filing.

If you are adding lights, that would technically need an electrical permit.Well, our types of permits follow the trades, mainly.

@Chad Burkett Hi Chad,Good for you.It's tough to get started, I work with new investors a lot and you really need a basic set of skills to be able to analyse a deal.It sounds like you want to know how to recognise a good deal when you see it so in (very) brief I would recommend you do the following as a minimum;1.

If it's a little job needing one or two single-trade guys, I can swing that management as well while they pull permits and hold insurance etc.

At the same time we transferred another $100,000 into our E*TRADE account.