i have decided to do some research into property management to see if how it works...my 9-5 job along with my family priorities keep me busy. 

You can improve marketing, revenue streams, cut expenses just like any other property for the value add.

My wife and I are expecting our first child in February and would love to have some cash flow outside of our daily jobs.

The contractor reports to me that there's cats everywhere, the place SMELLS like ammonia..... he even refused the job because he got a terrible allergic reaction and the place smelled too bad.....Other than annoying instances of having to wait for him to get us cheks a couple days late, he hasn't been a problem.....But I fear the place will have a permenant smell, and who knows what other pet damage there is.....Should I threaten eviction?

I do have a full time job as a construction manager with a focus on construction cost and schedule controls.

Locations close to prat and whitney would be ideal, especially since pratt will be adding close to 15k jobs through out CT.New britain is mostly working class, areas near the CCSU campus might be ideal.Other cities to consider.... hartford, bridgeport, and maybe waterbury... but be careful of the neighborhoods you buy in.Good Luck... 

In my opinion, there's not substitute for hiring a contractor who specializes in stucco and pay them to access the project on-site and quote the job.  

The end goal is to have a substantial amount of passive income as well as build equity, to have additional security for my family in case something were to ever happen to myself or my job.  

The new prospect will be less than desirable as they see what you have allowed.I understand the temptation and desire to get it rerented asap (see my profile), but your marketing and tenant choices will improve by NOT showing while occupied.

Mailers, cold calls, door knocking... whatever it takes to improve our odds.