You also want to build your math skills to a point where you are very comfortable with numbers. 

I've been in restaurants most of my life, managing and opening them, and i think those skills can/will translate nicely into managing the multiple aspects of RE investing.  

It's just a matter of time before you will have to shell out some funds.3) Why not ramp up your business and acquire some of your own skills and do your own PM and learn to screen and find good tenants?

You need to enter into a JV, or some sort of partnership...one where you have a skill that can be utilized, even if it's something like time expended searching for properties.  

The other factors you note are fine for gravy however alone may leave a shortage of expectations.

Right now I am learning and gaining new skills in Tampa which I plan to take to Athens so I don't have to depend on a ever so dreadful J O B and do Real Estate full time.  

The labor may only be odd jobs or the actual labor of cleaning and yard work - hey may not be skilled laborers like carpenters or plumbing, electrician.  

I hope to meet other like minds and gain awesome relationships with the BP community, and put my analytical skills to use. 

Since I know the roof will need to be torn off and replaced, and possibly the interior framing and drywalling, and plumbing and electric will need to be redone, and I'm familiar with housing values in the neighborhood (all except 1 under $100,000, but this house is the smallest in the neighborhood), I would not bid more than $15,000 under any circumstances, but I'm fairly sure that some fool will bid more and be stuck with something that he cannot afford to repair.On the other hand, I can afford to repair it, especially as my significant other is a carpenter and has a skilled crew on-hand.I'm trying to determine the pros and cons of reporting the house to code enforcement. 1.

The ability to increase your sales or income will be skills you need in REI.Fourth, keep studying RE.