And, professionally, I have been in the world of kitchen and bathroom construction and design for a total of about 9 years. 

I've had a few contractors walk through so I'm comfortable with the repair estimations. 

Or PM me if you're more comfortable doing that.

@ Miles RoseAs long as you feel comfortable living in the neighborhood, and the property, then I say go for it!

I am considering going the Redfin AA route so that, like @Michelle Bright, I can keep my day job but still be involved in real estate and apply my learned knowledge toward both my investing and design companies. 

Most leases are designed to automatically roll month-to-month, which would require you give a minimum 30 days written notice.

So if it gives you the cash flow when accounting for those additional items that you feel comfortable with I say go for it.

Scott: Thankfully, our credit is good and yes, we make more than enough to comfortably pay this debt and not be stressed about it (while also still living the lives we want to live and taking our son on fun family vacations, etc...which we know we could use to pay the debt down faster - but he's only this young once so our priority is precious time/family adventures).

If you're comfortable with your estimates, keep it - I just like to be more conservative.That's perfect.

It is important for you to be comfortable with the asset you are purchasing, then have your PM manage and grow that for you.