I’d start with taking a look at what you have right now in the way of capital, time, or other skills and see what strategy those seem to fit into best, then research the hell out of your chosen strategy.

Kudos to you for having a plan to get the units occupied fast; but it was a gamble.

But at that point, you're (somewhat) gambling on appreciation, which you may or may not be able to afford. 

You should contact @Richard Gamble on BP - he and his wife have rehabbed several properties about the same size as the house you are purchasing - to me the estimate seems low for a 900 sq foot house.BTW - Just had lunch again at Gus' and it was even better service than before.

Maybe she feels like you've chosen a CPA without her input?

It was nice getting the check on time but we wish we had not chosen that tenant at the end of the day.

3) Opportunity Costs - The New Oxford American Dictionary defines it as "the loss of potential gain from other alternatives when one alternative is chosen."

@Matt Scott  your being very much a contrarian on how most of the BP investors think and act.most of them their tag line is "cash flow is everything appreciation is gambling". 

I have chosen the path of note investing and love what I do in that arena.

Also, many of the homes in the North Richmond area are pushing 100 years old, so maintenance is a gamble.