New career had less flexibility and I wasn't able to effectively do both anymore. 

Appreciation tactic is a tough one to start with as markets can stagnate, and you end up with a property that ends up costing you maintenance, but only covers the mortgage or is negative. 

I have the capital for a down payment and holding costs for a year but am struggling to find a lender who does not require a first-position lien on the home (the seller does not wish to subordinate his lien position).It has occurred to me to seek a partner-investor who would profit share with me if I was responsible for renovations, as I’m an experienced and licensed Residential Contractor.

@Marc ShinMake sure to double whatever they tell you it will cost and take 2x as long and then have someone to come repair all the shoddy work that was done.Hopefully you have working bathrooms otherwise you may have some surprises hidden behind your walls

I'm trying to start my own books in QuickBooks to keep track of acquisition costs, depreciable assets, and other items that are not tracked in my PM's Buildium books.

Any costs directly associated with building the basement apartment, such as separate entrances, kitchen installations, and bathroom fixtures, can be directly allocated to the rental portion. 

Properties in this location may vary in age and upkeep, impacting maintenance costs and potential rental income.

(I can't remember exactly to be honest, but we charge about what it costs us to run the background check.)I would definitely recommend doing that.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

A key component to cash flow will be loan terms..you could consider trying to incorporate a seller concession towards an interest rate buy down or costs to help improve cash on cash returns.