My first six months of being a landlord have gone quite well (knock on wood). 

It can take two solid years of prospecting, marketing and hard work to get really established in residential real estate, unless you have a large sphere of influence ready, willing, and able to give you business and referrals.

@Mike Wood

We found out because it leaked for so long that the wood flooring in the living room (on the other side of the bathroom wall) started to swell.

Mike Wood Would you mind sharing how to present a project to a bank/lender?

I wish I had met you a few months ago, I could have definitely used a solid GC.

Albeit, the total was only about $150 worth of supplies; nevertheless, this could have been a very different scenario, in that, what if it was 10k worth of Drywall, wood, fixtures and appliances; I would have conducted myself very differently.Turns out the dude is like Jesus with table saw and a pile of wood. 

I am already fixing it up and know it is a solid house that is going up in value.

You're right @Joe Villeneuve, I need a solid plan and not a wish/dream.  

A cash offer is when You have the cash, not some Lender.....that would be a financed offer with a generally less than rock solid "preapprovals".