The house is in a terrible state of disrepair and I am not sure what else will come up once walls come down and floors lifted - as it is many of the walls show signs of moisture and I am worried there may be some mold. 

I would feel terrible telling clients the market is going to crash and then a year or 2 down the road their home is worth over 25% or more what they sold for.

As stated above, I came from a terrible environment (Camden, NJ) and the last thing I want is for my younger brother a little sister is to become a statistic.

Real estate is a terrible investment and you should get out.

The area I'm in is in high demand, so I don't think it'll be terribly difficult getting renters. 

@Saban BecirovicThey don't look terrible from the pictures.

Wow… that is incredibly terrible.

And you need a CPA from the start to make sure you're not making it terrible mistake in terms of tax implications.  

I wouldn’t recommend anything too terrible as you want it to look ok but scratches or dents that are hidden by walls or are small can be ok.

I was terrible at the property management side, but I found someone that was able to help me find a solid PM to get things rolling.