.#4  Start growing your "network capital".   

for example lead paint inspections/disclosures...).I would also recommend networking with others who have also recently bought their first or second rental property, getting together with such folks for coffee to mutually support each other.

Networking in the DC, MD & VA Area?

Before crunching the numbers more or even thinking of making an offer, I have a few concerns:  I'm in Austin, that means building a network of contractors, agents, etc. in Dallas that I don't haveI'm busy at work, and am not a full time investor, is it possible to be "hands-off" and still be successful on a first rental like the one I'm considering? 

After you graduate into 5+ unit buildings you will find that its likely easier to build a network of mid-market listing agents to get directly on their off property lists.   

@Ryan Wilkerson put the money in the bank and keep it for operation costs..get our site up to date...host a networking event at your current flip...do not spend on mailers...let the wholesalers do that and you go find your own deals by networking with agents and searching online yourself. 

That could be a good avenue to network with others. 

You will most likely find them through networking. 

Happy to network and assist.

If any lawyer or CPA says otherwise walk out.