Your people skills however will be used every minute of every day. 

I've also seen a shortage in updated low to medium income properties where I'm located.

You need good systems and good communication skills to be good at this.  

I'm not worried about my ability to make enough money to pay my mortgage- there is NO shortage of jobs in my field, and if I can fill one of the other two units that will just about cover the mortgage by itself, if I can fill both units I will already have + cash flow (the surplus goes into a savings account or back onto the principle of the loan.)

In case there would be a shortage of water, the water rights would be served starting from the oldest ones, so the newer ones may not get their share of water if there is not enough for everyone.- water rights can be revoked if not used.

I have a lot of knowledge and some skill.

I may use a GC for the job, or I might coordinate the skilled trades myself - it just depends on the complexity of the individual project.

Unfortunately there is a severe shortage of townhouses, which seem to be the best kind of rental unit here, in contrast to previous years when there have been plenty available around Christmas.

We could suggest that the folks who post on these threads and those students whom we have worked with are just out-liars but I can honestly tell you I have not met a skilled note investor from ANY of these programs.  

The comps, while all over the place, show no shortage of nearby $30-$50K props.