I know these are all still possible in STR, but I like the flexibility of simply not renting it when I don't want to deal with rents.

With the variables associated with a rehab, it seems that could give you more flexibility.

(single, and hat-hanging flexible with a somewhat minimalist lifestyle)I've been a landlord since the '99, and would rather streamline my properties at this point than acquire a new rental, especially considering the high cost of residential property in my area compared to the relatively low rental rates these days - roughly 5% ROI factoring in a month of vacancy per year, but not accounting for appreciation/depreciation of the property itself.

I am single with no children and have no roots which gives me a lot of flexibility on how to start this journey.

They are going to be more flexible in their structure.

If your deal was purchased correctly and you are flexible/dynmanic with your management of the 48 units you will have $2k plus added to your income every month.

I don't mind the $1025 payment as my job pays great (70k) in DFW area and allows myself flexibility, however would this eventually become a losing situation if i intend to eventually move up to another duplex after 2+ years as owner occupied?

I have also dropped out of school and currently work from home and have more flexible schedule to be working on the property as this will be full time for me.

If your budget was a bit more flexible I would suggest attempting a multichannel marketing strategy and employing the use of direct mail, cold calling, driving for dollars etc.

I'm sure she was basing it out of just throwing out a number, because I asked if she was flexible at all and she just said, "Send me an offer." i told her i can't do that until i get a good idea on what the rehab will be..So the seller has been cooperative with me in regards to that.