You've got to visit.... if you're contractor up and left you... what gives you the confidence it's ready to sell? 

Nothing builds your confidence like a deal or two though.

Somewhere in the 120 range makes sense if your confident in those repair numbers.

@dave foster, any ideas?

@Jamin OldsAgree with @Dave Foster.

Doing so, has given me an added level of confidence when finding deals.

Anyway, the short responses to your questions1- live-in renovation in 2011 FHA-insured loan2- tenant screening is key if you are going to be neighbors with your tenants...and introduce yourself as the "property manager"...separation makes things easier when you live next door. 3- first time...total guess...got lucky and settled into a $40k equity position from onset...did lots of homework, but limited to zillow back then...4- don't be afraid to pull the trigger on a deal. consult a great local agent and be confident your numbers meet your needs.

Take a confident 12% over an over-confident 20%.2) If the syndicator is investing outside of a market where they have a proven track record, then I would not be in on the first deal.

And I have partnered 60/40 with 60% being my share under similar terms.You have to be confident your knowledge to create a profitable investment is extremely worthy.  

@Dave Foster, That's an interesting point from a timeline standpoint if I understand you correctly.