Would two loan mods be a lot worse than one in your eyes?

Logan is iffy like you said, but with you being there to keep an eye on things I think it'll be alright. 

My 2 cents as a Certified General Appraiser (mostly residential work) for 24+ years and licensed Agent/Broker for 21 years...oh, and a Mortgage Broker for some of those years...and flipper/rehabber, and longterm OOS landlordAppraisal will get you the skills to understand the real estate market "under the hood," and keep an eye on current trends, typically, more widely than an Agent/Broker.

Your after pictures show class, hard work and a great eye for decorating.

If I were you I would put it in the rental property calculator here on BP www.biggerpockets.com/calc I think that will open your eyes to the costs that will be associated with the property.  

If the subject caught your eye, i should go into marketing.My BP question for everyone: Who has attended a seminar/ training/ mentor program for under $1500 that they didn't regret.  

I'm always in the area, as I have family in this area, so I would definitely be able to keep my eyes on it at all times.

I am just saying do not venture here with stardust in your eyes.

One tip that I picked up here is while you are starting out and saving money for your investments, start driving / visiting areas you would like to invest in so you get a feel for prices, rents , house conditions etc, and visit and look at lots of homes and open houses so your eye get used to looking at repairs / upgrades that are normal in a particular market.

That being said, we still keep an eye out for a good deal in the Silverthorne and Winter Park areas and still hope to one day pull the trigger on a mountain condo here.