You start running up on real downside risk in these types of situations. 

My concern is the risk that the property gets rezoned to a flood zone.

Aside from that you will need vey deep pockets to be able to build the infrastructure and carry the property for a decade before you see any positive returns.

Never post on a public forum how much cash you have sitting around.Be prepared for lots of random colleague requests and messages now.The answer to your question totally depends on your goals and risk tolerance.Do you want to buy SFH's or MFR's?

My current short term goal is just starting a portfolio, once I do my due diligence and study as much as a possibly can to mitigate my risks.

Cost of turnover is built into your business plan do not determine viability of keeping a tenant that is clearly at risk to avoid planed for expenses. 

I'm not afraid of Risk or being rejected, I have the motivation to find the deals and wand to meet up with anyone who wants to chat about real estate.Thank you guys for time and I hope to hear from you soon

IF YOU are accustomed to quickbooks general ledger work always make sure to check and see if there is a Buildium way to accomplish your goal because you can end up with correct accounts and incorrect Buildium reports.The biggest complaint I have is the kludgy way you have to deal with credit cards where you carry a balance.

When you are done, read them again. it is your responsibility to know the laws in which you need to be in compliance with. once you finish reading you will understand that the terms of a lease carry with the property, and are in full force and effect as though your signature was on the original lease.

They don't know if your structural repairs will be of quality or not thus making their risk much higher.