Just wondering how far to go with changes to property to accommodate since they have been asking for other things like blinds on a back door, new carpet transition edging, then this door knob issue.

Not to mention, the rapid transit is supposedly going to have a stop in downtown Fresno - I have yet to see more on this though.

Really feel like this gives us the opportunity to expand our investment by keeping our current home and build equity in the rehab home without burning on an apartment in the transition. 

But I have found that if you make a gentle transition of ownership and clean up the building a little tenants do not mind signing a new lease with a little higher rent. 

Read the BP forums long enough and you see many amateurs with no construction/rehab experience and no deal analysis/negotiations/transaction experience, but after a few months of reading forums, books, listening to PODcasts, they are ready to invest....but rely heavily on their realtor and contractor and other team members.You'd have a natural advantage, if you can tour/inspect a property and devise a rehab budget, and be able to execute that rehab.So....I see a natural transition from a contractor that works for others, to a contractor that works for others and does 1 fix/flip or fix/hold himself a year....to a contractor that works only for himself and has 2 remodels per month going.Separately, many of the cities/markets discussed here on BP, search the threads and see how often someone is asking for a referral of a quality contractor....you could be in high demand, working for investors....even if you chose not to invest.

You are operating a business and tenants are expected to pay the tab.Keep in mind it is normal to transition to a M2M lease at the end of a term lease.

My general thought there is that I may want to transition to something else (Rachel may too) - and who knows, maybe I get hit by a train or something one day and Rachel would need the ability to manage stuff herself.

Then you might be able to transition into a commission split situation where you have clients.If you know people that buy, lease, sell, or at least own commercial real estate you might be able to do well in the second year.  

It's a walkable neighborhood, near public transit, etc. you might find yourself hip urbanites who like the idea of living on main street, above a store, that whole "urban loft" feel.  

If you are looking to transition out of the military the cash might come in handy or paying off the property and having a larger stream of income may be more helpful.