Then possibly trade up to bigger and better once I'm more comfortable with the ins and outs of running the investment. 

I don't think you need a PM, but definitely a good handy man and make contacts with trades. 

@Ray Schumacher get on Facebook and join a Springfield Buy Sell Trade group.

The most likely reason this property would trade at a 4% cap in a 7% market is due to the LIHTC being eligible to come off in two years.

I know they have a rule if the owner is performing majority of the work for a trade sometimes they wont require you to pull a permit.

I have a small team of trades people in the area I can trust handling projects.

Neighboring houses selling in the $100s doesn't sound like an area where things are trading above replacement cost, especially given that CT is not a low-cost area to build.Most QOFs are private equity, which means they want to write seven-figure checks--a single lot probably isn't going to cut it.

I am serious about starting in real estate and I would love the opportunity to learn hands on through a job assisting professionals in their already established business or whatever service I can provide.I am in the Minneapolis metro area and don’t have any formal education that would qualify me for work in any of the trades or general contracting.

Still I think it is a good trade off for rentals if you can make a conversion.

We tend to buy C or B class properties that we can trade up into B&A areas.