The property is in average quality due to some recent capex improvements. 

I believe this year there was a law passed that allowed businesses to write off 100% of their capital improvements instead of depreciating them over time.Again, you would need to check with your cpa and see if that applies to you.

I could have rented a trencher for $150 bucks (probably)) but I felt confident I could knock it out... and I did! 

Reserves ~ CapEx are fund held for repairs and improvements. 

Point #3 as mentioned is less passive then #1 & #2 it will come down to your confidence in your operators ability to execute.If you decide to take on #4 this will take quite a bit of your time.

I also happen to know that the property needs some excavation work done to improve the driveway, which I estimate will run $10,000.

We believe it's a mutual benefit for us and our property owners to improve property.  

utm_source=search&utm_medium=internal&utm_campaign=books (books recommended by BPers)Also, you can review the quick links below to help solidify your grip on this site. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meethttps://www.biggerpockets.com/alertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/termshttps://www.biggerpockets.com/inviteshttps://www.biggerpockets.com/perkshttps://www.biggerpockets.com/forums/categorieshttps://www.biggerpockets.com/courses/a-beginners-introduction-to-real-estate-investing (video courses)https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)After becoming more knowledgeable and confident take action to snag your first real estate investment deal.Here are some solid tips before buying your 1st investment propertyhttps://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/Don't get caught up in analysis paralysis.Take calculated risks if needed and you shall be rewarded!"

hopefully all have a peaceful and happy time. take this time to spend with Family and plan for yours and their future. reflect on the past, improve on the future.

I have been doing some reading on how to study a market for investing and after I read several articles I feel confident in knowing how to investigate a market but then 5 minutes later I feel lost and don't know where to start.