So it comes down to comfort level.  

In my opinion I think a lot of it comes down to comfort.

I am in the process of designing and implementing my Real Estate Investing Plan. 

All payments made by Tenant to Landlordafter the tenancy commences, no matter how designated by Tenant, will beapplied as follows: first, to any outstanding amounts due for damages/repairs,utilities etc.; second, to any outstanding service charges or fees from priormonths; third, to any rent outstanding from prior months; fourth, to anyservice charges or fees due in the current month; and lastly to the currentmonth’s rent."  

Also if they are really old wood frame yea they are a pain to deal with not to mention poorly designed most can be unlocked from the outside with a thin putty scraper so i would never live in a house like that because i like to open and close my windows withough having to remember to put a pipe or wood block back as a secondary window lock

I have an Electrical Engineering degree but haven't designed anything in over 9 years having moved into more of a project management role.

I still consider myself a new investor, but now I’m much more comfortable accepting that l do not know it all, and I don’t need people to think that I do.

I have deals in place waiting to be unloaded to any buyer who has a need for these beautiful properties (I will be designing each property myself, yes and you're welcome)!

Also just make sure you can comfortably carry the old house for six months or so in case it takes a while to get rented.

I've run other sole prop businesses and I am very  familiar with the paperwork required so I feel comfortable with that to start.