Forgot to mention we are also looking to start out using the FHA 203k loan that provides funding to purchase and rehab the property.

Turnkeys are great if you don't have enough liquid cash to fund the property outright and still allow people to invest in cash flowing rentals and gain 1-4% appreciation annually in most of the midwest markets.

The short answer is no,don't do it.You don't seem to be in the right mindset to become a member of my profession which is exactly what it is,a profession and not a hobby to pick up or put away at will.My profession requires lots of time devoted to learning both in and out of the classroom for at least 6 months to earn a license and the follow up sales training at the brokerage.It is not cheap either to get started with all the fees involved.From what you are describing about your personal life,family demands,and interests desired to pursue,I would concentrate on learning about investing in your spare time.Learn how to evaluate property for potential profits after repairs are done.Join an investment club and surround yourself with successful people who have already been through the process.Learn about hard money,gap funding,and what it takes to get the money you need when you need it.

Unfortunately, the disaster relief usually isn't enough to put the house back into the same shape as it was before.After Sandy, many homeowners stayed in their homes or stayed in hotels and kept their homes while waiting for relief funds.

- Jenny and Chi Coming from experience i lost 4k for doing nonrefundable earnest trying to get a 203k funded even with a consultant, etc. they take a long time. make sure your are patient. you may want to just close it and do a cash out later on and use some of your funds to do the project 

These are houses zoned for very desirable schools as well.  

Also we have a friend funding the deals as we find them.

-I consult for a 26 Billion dollar hedge fund and perform thorough analysis of investments and their projections..

In my personal experience, most spaces still open are those with trust funds or other businesses that keep co-working open just for the fun of it.  

I just finished reading Finding & Funding Great Deals (twice) by Ansong Young and I am extremely excited to get started!