684 isn't bad, but getting over 700 and preferably 720 is ideal.

Ideally, ALL exit strategies should make you money and not end up being an "oh sh... solution".

They are not ideal for professionals who use them every day.

Before the RE discussion came about, we had decided it would be a good idea to pay off all of our debt first (1 vehicle and primary residence mortgage) before getting into the RE game.I would like to ideally use cash to fund my first deal as a lot of the financing options (HML, PML, HELOC, HEL, etc.) seem pretty risky for a beginner.  

I would ideally love to get hand on some properties that require little cosmetic changes and flip it quickly - just the way u did. 

See what their ideal real estate transaction looks like in their minds, then create a strategy around their scenario, if possible.With real estate investing, one has to be a creative (problem-solver & value adder.)Navigate this platform for marketing strategies, general real estate investing education, and connections.

Based off what @Brian V. states,  starting off on a property with lower risk of having a major repair is a great place to start as long as it is purchased under the ideal circumstances.

Vernon range between 1400-1600.Two bedrooms are 1600 and up.So ideally with no vacancies this house can produce when all conversions are done, at the very least 5,800 a month in rents.

Aaron Phillips let me preface this by saying that I am also very much a newbie, but the formula you are using doesn't seem right.ARV = after repair valueWhich is essentially an estimate for what the price will be at market value after repairs are madeSince you are buying a distressed property that is currently worth much less than the average value for a similar house in the area, the repairs the rehabber is going to make will ideally bring the value of the house up to the ARV.The formula you want to use is:ARV x 70% - [repair cost] - [your fee] = your offer priceThe difficulties you will have as a newbie is correctly identifying the ARV and the repair costs, since you have no real experience figuring those out.

One nice positive is that the homes, being separate, are ideal to enable all of the expenses to be passed-on to the tenants.