My family and I are living in a real sh** hole, working our butts off to fix it up.

Depending how long the previous tenant was there, replace carbons/smokes, furnace filter and (maybe) furnace cleaning, fire extinguisher, touch up paint/nail holes, fireplace cleaning (if applicable), dryer vent clean-out, if it's an older property possibly do a roto-rooter service of the main line.

There is no sump pump or interior drainage system installed today. 

Fully constructed they are fine, but once holes are cut into them for doors, windows, etc... they loose most of the structural integrity. 

And we added scope after we got into it, and also discovered a drainage issue, so we had underestimated repairs by about 10-15k.

And wow did it lead me down the rabbit hole of non stop studying, research and learning everything I could about money, taxes, asset classes, and economics.  

@Shiva Bhaskar, as you mention, there are people succeeding in all markets, big and small, low crime and high crime, etc.Investing overall comes down to finding a hole in the market and filling it.  

Minimum rentals allowed for a year, and maximum too.What are some typical loop holes I can look for?

Starting down the rabbit hole of investing is great, but there is nearly an infinite supply of information and insights that can and will prove useful to you, so always look to learn more. 

They look great and allow much more light into the hallways.Jen tackled sanding and painting the hall ways hall way 2 is complete with hallway 1 not far behind, all that's left is stair treads.Bathroom in Apt 22 came together with installation of the vanity and fixtures.Some odds and ends also got completed, door hardware, exterior electrical patching some holes and paint and the lawn guy found the rest of the sidewalkThat's it for Week 7 so far we are on track and on budget, stay tuned....