Also, I was super excited about the low interest rates and refinancing of some properties.

I was excited about the low interest rates, until I found out that my tenants now want to buy their own home.

I’ve never been so passionate about anything in my life so I’m really excited to be apart of a journey like this.  

Super exciting to watch judicial policy be formed!

This is one of those questions that only you can answer.From strictly a rental property analysis standpoint, $2600/mi in potential gross income for $375k is roughly a 4% cap rate - That's not incredibly exciting, but also not terrible (it's also very market-specific...it would be great in some areas, terrible in others, and I know nothing about the Metairie LA market). 

Anything else in particular you would recommend we consider as we prepare for this slightly scary, exciting decision in our lives?

Definitely the first step to a successful real estate investment and don't ever let emotions or excitement get in the way of that!

I initially got really excited that I might be able to finish the rehab within 25K (as mentioned in my prev. post) but there were couple of surprises that let to the budget going to 35K.2.

Hey Jessica, sounds like an exciting journey.

However I should have done better research first before I got excited and put it under contract.