I would also recommend the Hometech book, but in order to have a fundamental understanding of what you're trying to do, you need to undestand exactly how much lumber, how many nails, how much drywall/tape/mud, how long it will take w/how many guys, etc etc etc.

The funny thing is that they are often very nonchalant about self management when you are looking to buy.You buy it then all of a sudden they are hard as nails about it and constantly make your life difficult.The problem is that you might not know how tough it is going to be after purchase.

Yep, Dan's post nailed it.

@Todd Dexheimer nailed it... but, I'll add some meager data.We closed on 55 units about 6 months ago. 

Nailed it!

I think other people have nailed it already. 

I DON'T spackle nail holes, EVER.

There are some good places to invest here and there are places I avoid like the plague -  many of the posters have nailed it as far as north of Shaw - there are also other nice little pockets in south east Fresno too - I would be more than happy to help you look around the area.  

I think @Ryan Moudy nails it with #2. 

He isn't a polished perfect salesman trying to get you to buy his product.