I lost a lot of confidence in her with the 10K contract mistake amongst other things.

I will also have more exposure to potential capital investment requirements than option 1 (two roofs, etc.).In both cases, I will have appropriate cash reserves for the real estate and a personal emergency cash reserve.I am leaning toward selecting option 1 since, if the deal is a good deal, I should be able to make first timer mistakes with the property still cash flowing.

We learn the most when we make mistakes!

Im making mistakes with my money that i got on a lawsuit settlement.

In a worst case scenario I’d love to even take him to lunch and learn how he accumulated all of the properties.

I am wanting to act upon this sooner than later and make the correct mistakes.

What are some mistakes made that you wished you could redo?

(worst case scenario, they don't move their junk).

I think we'll be forced to learn more (and quicker) if we take on a SFR, but the savings from no HOA (would not buy a home in an HOA from afar) could be easily offset because of the mistakes I KNOW we'll make by not being local. 

So post purchase repairs would be $9.2K+$10K+5K (worst case scenario) = $24.2K or let's round it to $25K.