I decided to start investing on income properties in Bakersfield California, due to the better cap rates and better roi compared to the Los Angeles area where i live.

@Wayne - How do the rates on a renovation loan compare to a conventional mortgage?

The odds of you going to court and losing so much that insurance won't cover the loss is probably comparable to being struck by lightning twice.Treat people honestly and fairly.

In my location the houses are relatively expensive compared to the rental rates.  

I think it depends what kind of personality you are compared to the authors writing style.  

@Jennifer Streamer  comparing Kelowna to Detroit or any big US city is kind of funny.But I do remember the gang shoot out at the big hotel on the water... crime in Kelowna is relegated to biker gangs like hells angles etc..

Compare and contrast (the lowest bid is not always the best), negotiate prices, ask questions, check their contractor license number is valid, make your pick and sign contracts!

How often are your student renters late on rent compared to other types of tenants?

Now, I'm not to familiar with how to price a church as compared to a home? 

Done right, this can get you economy of scale and some favorable pricing (i.e. less than what you'd paid to roof a single family home of comparable size).The down side can be things like agency costs, poor management, and financial mis-steps.The bottom line: what are you getting for the dues?