I also considered it as a flip (ARV for a quick sale would probably be $125ish) but to do that would take around 30K of repairs (refinishing wood floors instead of vinyl, better appliances/fixtures etc.) but I thought that might be biting off a little much for a first flip. 

Your plan is solid, and the fact you acknowledge the need for a mentor says a lot about your maturity - way to go!

All the more important to do your research and get solid referrals.

No buy-and-hold for now.I am pretty solid with my partnerships with my investor and contractor, but any and all other advice is welcome.

I would say these would be solid opportunities for you to meet and talk to others.A couple good guys you could potentially want to talk to are @Brian Fouts and @Ryland Taniguchi.

Push the money into federal municipalities, state municipalities, and paying off your most profitable property in my opinion.Federal and state municipality funds are tax free investments, and mine perform in the 8-9% range, which means tax effective 11-12% range, equal to that of a decent cap return for real estate, plus they usually pay monthly.on top of that, the last thing the states and feds wont pay is their water, power, and sewage bills, hence why its a good steady flow of income.Also, it gives you three sources of solid residual income.

@Brian Woods Ok thanks I got it.

That's wood.

Hey @Nicole Wood welcome to BiggerPockets!

I am just starting a flip in your neck of the woods if you would like to stop by.