Not to sway you in any direction, however, I typically recommend that the first deal be a light cosmetic rehab that will cash flow accordingly.

A bunch of finishes to make it look pretty (drywall, paint, floor tile, cabinets, countertops, light fixtures, backsplash, sinks, faucets, bathtubs, etc)Not much else to it. 

This super cute house has new roof, new plumbing, electrical system, interior/exterior painted, double pane windows, ceiling fans throughout, new doors, new kitchen cabinets, new light fixtures, wood floors, granite kitchen countertops, new stove, exhaust and back splash.

I bought this with private money entirely, including 20k budgeted for light renovations.

I'm looking to implement systems to more efficiently manage my business and to grow as mentioned above.

I have owned a number over the years, and am closing on a 5 unit within the next two weeks, so I may be able to shed some light if we iron out some details related to your deal. 

They placed tenants really fast - almost right when the light 6 week rehab ended.

You may be the first person they've spoken to in months that will have approached them in a positive light. 

New vanities, tile, sink, shower, and light fixtures were added to the bathrooms. 61 can lights were installed in the ceilings throughout the house, which previously had 0 ceiling lights, which made for very dark evenings before the remodel.

I will implement a plan once their lease is up.