Only difference in the last few years is I have a virtual bookkeeping company and a property manager.

Its 50/50 for me and we manage 18 homes

Direct Control: Managing the project yourself gives you direct control over every aspect, from selecting materials to scheduling subcontractors, ensuring that your vision is accurately 3.Learning Experience: Taking on the role of a GC can be a valuable learning experience, providing insight into the construction process and improving your skills for future projects.4.

Establish a good relationship with a property management law attorney.

Hopefully it's for a BRRRR, flip, or something RE related (assets); not a boat, car, or pretty much anything with wheels (liability). 

My wife has zero interest in real estate and is not involved in the acquisition or management of real estate in any way.  

The key is buying properties significantly below market value, keeping costs low through self-management and maintenance skills, and taking a long-term view to build wealth through forced appreciation and equity capture over time.

Its priced well, needs work(which is fine) but wondering if anyone has had any experience buying, living, or managing any rentals in this area or near it?

A couple more things to consider as you do this, and I've overseen 100+ apartment units renovation that we've owned and managed so I have some experience in this. - If you're already tearing out the cabinets, maybe see how much more it would be to re-pipe the water lines or re-place exposed sewer lines.

Overall, it's a mostly all brick, historical older community that used to be well managed in the 90s.