Good Schools and nice clean safe neighborhood.

For those of us who're in the rental business might be safe as you're more so on the CASH FLOW game but those of us who're building new construction and doing fix N flips have to VERY CAREFUL.

Great area, safe, easy to rent, near the large state university.  

Drugs are not tolerated on your property and you will keep your good tenants safe from these types of individuals.

They are far more proactive in helping make sure the community is safe, and won't hesitate to call the authorities if something bad is going on. 4.

You will make all the necessary repairs for your tenant to live safely and comfortably in the home.

"Permanent Removal of Lead-Based Paint Hazards or Lead AbatementIf the main purpose of the project is to make the house lead-safe, and not just as part of an overall renovation project, then you should use a licensed lead abatement firm.

While I think your suggestions are a solid plan for either a person with a substantial amount of cash (far more than $250k) or someone that is looking to generate a modest but safe return on their investment, there is no way the OP will be able to quit his day job (in the next 15 years) on 7% returns that your allocations suggest (maybe 9-10% depending on the specific real estate investments).

@Jeremy Kersten to be safe an Attorney would be the best way to go but I believe: if the property had a homestead exemption, the redemption period is 2 years as stated by @Todd Plambeck but if not, the redemption period is only 6months.

See you around the playground...