If you turn it over to a company they will automatically protest each year and you pay a percentage of the amount they save you.

Besides the obvious save money and fix credit.......

With that credit you would have a total savings of $1,350.

So, should we continue to put our heads down and mow through debt or save up and get into the REI game?

I was able to find a few homes that fit my budget (have 30K in savings) and looked reasonable.

I have entertained the idea of getting my real estate license (so we could be saving money on our buys and sells) as well as helping take care of the odds and ends errands that eats into my husband’s time (running to stores for materials, fixtures, etc.).

For now I am just saving my money (unless an actual good deal is to be had) because ALLLLLL those duplexs, fourplexes, etc., will be back on the market at a way lower price.

Although an investor in your jurisdiction might have experience with similar actions, to get the best up-to-date information (and save others the risks of unlicensed practice of law) you're best off talking with an experienced real estate attorney barred in the appropriate jurisdiction. 

What matters most is the money saved on housing expense, the low downpayment and great mortgage rate for an MF due to owner occupancy advantage, and learning to property manage.

So the basic financials are $281,900 purchase price, $100,000 rehab cost, then when this is complete the income of the property would be $850 and no utility expenses.I am planning on using the BRRR strategy for this property.My wife and my personal finances is I have $14000 in savings, $600 in another account and I have a line of credit of $40,000 with and interest rate of 7.8%.I have not exactly officially offered this $281,900 but I want to but before that I want to hear any opinions and things I may not have thought of.