Collect the rent and keep it safe . 

If I show up and there is another plumber on site bidding a small job, Im going to keep driving.

Is it safe to assume that this is older inventory, ergo, higher repair and maintenance expenses?  

Our plans include searching for and filling small holes and cavities with acoustical caulk, adding a layer of roxul safe and sound between joist, attaching resilient channeling, and finishing with a 5/8 in drywall layer. 

Going the route of a safe good paying job and saving 60% of you income to invest will make you very successful in real estate investing in the long run.

My accountant says 14 months to be safe especially if it covers 2 calendar years. 2 years to be safe.Its called a 2 year flipEven if just hold it for a year you have a much better tax implication

I cringe on the very thought on investing outside of a few hour drive for all the reasons you explained and more. 

That way you can still drive out on a Sunday to check on big rehabs and stuff.   

If we can safely and under the proper rules/regulations turn the basement into a bedroom, then we can refinance with a higher ARV.

Found it by driving around town off season looking at multiple listings.