We've often closed two properties in the same week (once on the same day ... way too much confusion for bank and lawyer).If you are buying in Fredericton, there is a strong chance I know the triplex you just purchased and the five you are entertaining.  

My wife has been in prop management for most of her adult life and is a regional manager for a large company so I plan on using her skills on the management side (why didn't we do this much sooner!!).

Might try to get a working young adult or a grad student for the house manager. 

Financial Knowledge and Decision-Making.While many American adults believed they were adept at dealing with day-to-day financial matters, they nevertheless engaged in financial behaviors that generated expenses and fees and exhibited a marked inability to do basic interest calculations and other math-oriented tasks.

We entertained the idea of immediately listing it on the market without doing updates or just wholesaling the deal to another investor who has the resources to do a complete flip...Have any of you come across a situation like this? 

Even so, I'd be hesitant to buy one of those Downtown without putting serious consideration into the upcoming tax reval, which could cause property taxes to soar for owners in this part of the city.However, not all hope is lost if you're willing to entertain options elsewhere in Jersey City.

REIA's are great for entertainment and exposure to those selling dreams and stuff - but they will not move you forward fast enough.You give me the impression of being impatient and want to reach your financial goal - maybe before you even have them.I too know many of those 7 figure income people and own a unit in Manhattan and other states.Those 7 figure income people got where they are by making right decisions - they have the ability to see right through a novice and a bad or unprofitable deals and have the ability to dismiss an individual without mercy!

Now I'm destined to invest in real estate to provide housing for intellectually disabled adults.  

I haven't made my first rental purchase, but I didn't even entertain this one.

I would describe this property as urban camping or a youth hostel for adults.