I have house that needs a good carpet cleaning as well as some light repair work where there are some bunched spots.  

The street is nice and clean and there was one 5 doors down that rented for 1175 same size and floor plan etc.  

While you are getting your finances in order, learn all you can from this site, books from the library and your local REIA.As harsh as it sounds, if you spend all the money you make from your JOB, you will do the same with all the money you make in real estate and so your growth will likely be slow and your wealth will be limited to debt pay down and appreciation which is never guaranteed.  

If you find something sub-to, you probably want to clean it up and sell it with the buyer getting a new loan or paying cash.If you got seller financing and the seller did not have a loan on his property AND he is ok with you wrapping his loan, DO IT. 

C-, really D neighborhood,   Why is seller selling, seller not raising rents, and how many bombs (issues) are you going to clean up.  

From this I learned the best strategy to clean out a building. 

This may sound harsh, but you sound very much like a salesman for a crappy guru.

Clean - straightforward Investment Rollover.

Tenants that have good credit, a job, and a clean record can pay the same money and get a much better place.My strategy was to take care of all of the problems up front, put in good tenants and let it make me money, rather than have it nickel and dime me and require a lot of active management.   

So luckily I had a friend looking for a two bedroom house so she's renting it and I waved their deposit so they even cleaned the entire house out of all the junk left behind by the lady I had to evict.