Your first option is going to trigger a ton of taxes, and commissions paid to realtors upon sale are also going to eat a ton into your investment growth.As with any investment, it usually makes sense to keep your money there until a better investment opportunity shows itself.

The odor smells like eggs (which is the sulfur)  and the color is from the well (brownish color).

These little communities are almost self sustaining with multiple eating and shopping establishments.

The money costs will eat up your equity in a hurry.

You should eat the fee.

All it takes a few rotten eggs and there goes all his cash .

And then reno, you can do everything else right just to have contractor profit margins eat all the equitable gains, this is where it strongly enforces that a person needs to have a very good mastery of renovation and optimally is a contractor themselves or has a GC partner. 

Be careful that you don’t spend too much on the buy end in this hot market, because if and when the market turns down, you want your investments to feed you, not eat you alive! 

We are a couple - enjoy nature, going out to eat/drink maybe once or twice a month.As of now, I plan to do a 30 year FHA owner occupied - after 1 year I will move out so all units will be rented out and I should be cashflow positive around $500 or so.

Other things to take into consideration are that PM companies will generally charge a leasing fee of 1/2 to 1 months rent and often charge some type of releasing fee annually as well which really eats away at profits.