Run your deals BP  Buy something where the numbers work. and Then build from there.   

After doing some research I think that the appraisal is a lot f work and an investment to work under someone after the course or about 2 years won't be it's rested.

Your after pictures show class, hard work and a great eye for decorating.

@Chance NelsonWelcome to the site.Lots of money can be made in RE but it takes a lot of hard work and some time.What area of RE are you looking to get involved in?

I think the biggest risk is with finding the right assemble of contractors.I have had my share of kicking guys off of jobs threatening to keep tools and wasting money by trying to take short cuts.  

I love to work with serious minded people and I always appreciate and reward good work and ideas.Please take note of the below information which will be done prior to our arrival.You need to set up a checking and Savings account Chase Bank or Wells fargo Bank or any bank around you..Account and other information used in opening the account will be requested from you to initiate the process of making the funds available.2.

are there any investors who have made this business model work and can give me some insight on this to consider and tips on how to make it profitable and beneficial for these neighborhoods?

Maybe at the onboarding, also use solid check sheets and have a some info on how much work and costs are involved with smoke remediation....Let me know if you need more ideas or want any book recommendations.

After you are out of debt, and have saved a bit of money, then start thinking about investing it.It is possible that you could take a short cut around all of this if you were to secure zero down financing and start flipping houses or something.

@Gregory Van Heest Forget the credit and work history...cash talks....and I would leverage it....Do some research on Investing in Apartment buildings...Lenders care more about the deal than you personally...They only want your work and credit history, because they want to make sure you don't need the cash flow to pay your bills., and that you pay your bills on time, if you don't have credit you can do a no doc loan, and still get funded.