And, you're in the marketing field, so it should be a breeze... as long as you're not a branding guy, you'll be find (if you're a branding guy then good luck to you).Go out and talk with some brokers. 

If you need the money to sustain then the money from buy and hold is slow, it is long term play, so you would then probably want to rehab.

I'm hoping to learn and get advice on how to help my family grow their "mom & pop" portfolio and help brand it into a professional entity to increase their current profit margin while maintaining scalable processes.I'm still a newbie but am determined to learn and hopefully make some money along my journey!

Don't kid yourself - this is a cash flow play you're after.I recently purchased a 4-plex in May in the FSU area (a block north of Tenn St.) and had to completely renovate one of the units, so I figured it may be helpful if I drop some numbers on you as they should be somewhat relevant.....Purchase Price - $180k1978 build.  4 units - all 2/2sSeller paid 2% of closing costs.New roof in '13, new windows throughout building, new staircase, 3 of the 4 units had been completely renovated.  

If they are all going to be well under market value, you should have some equity room to play with and be able cut someone into the deal.

Pure cash flow plays in flat or falling markets is one sure way to increase your risk and to lose the real opportunity of having your money work for you.

I'm brand new to REI, and I'm considering getting my RE license - but I'm also considering not getting it haha.

Now, how it plays out and when and if the note gets called is another matter.  

Practically sometimes comes into play. 

People are still putting money to work in long term rental plays.