In today's economy it's better to either own apartment complexes (which don't require any experience) , Fix and Flips, or Quick Flips.I do believe that real estate property ownership is a game of quantities and how many offers you make will effect your success. 

These were catastrophic failures where the cost to fix it was worth more than the house.

Then took the best one and fixed it up real nice and it now rents for 1,100/month. with about 20K into it. next we financed out to pull out 75K!

ReHab - $4000 Needed nothing serious but a window was smashed, needed some flooring fixed, wall repaired, a significant amount of cleaning. 

Each unit needs a little fix up, but should I attempt to put small stove/ovens and small fridges in so each unit has somewhat of a kitchen?

30 year fixed mortgage

Why doesn't she head on over to his swanky-swanky-hubba-hubba Capital Hill address to get her boyfriend fix?

He is willing to finance the property if I put down 12%, he will charge me a fixed 3.5% interest rate for 5 years with a balloon payment at the end of the 5 years.

So little time to do all the fix and flips that are available :-)

Its truly hard to do well in this industry without someone taking you under their wing and guiding you through the process.