Great choice to owner occupy.  

They get a 40k discount after the rehab is done and they come out with carpet and paint of their choice.

GP schools, coupled with a great location, and low inventory of rentals on the market in HW make it a solid choice.  

., not on the coast, not near popular cities)- The areas where I buy have much lower construction costs (i.e., more towards the east and south)-  I'm better at finding good deals than you-  I'm better at negotiating prices with sellers than you-  I'm better at keeping rehab costs down than you-  I'm more efficient at management than you

While the result is the same it will be perceived as more "fair" to raise the rent based on something they already agreed to, rather than your choice to hire a PM.

The state statutes should be fairly clear, and a local RE attorney dealing with tax deeds will know the 2 or 3 choices off the top of his head.

One of those being that I'm passionate about reaching a level of financial independence that affords my family choices.

is my choice as well.

A credit union would be a good choice. 

If there is very low activity they either reduce the price, or perform minor rehab in an attempt to move the property - just like anyone would do when they have no choice but to sell a house.