We are also going to move a few non-structural walls around to increase the kitchen size, convert the hall half bath to a full bath, and turn the current full bath into an en-suite for the master.Exterior we are replacing the siding, windows and doors, and paint the brick white.

The great thing about buying SFR for a cash flow rental property for the long term is even if values drop in the short term because of a down economy rent prices increase because no one wants to purchase housing when home values are falling.You just need to be a little careful in the area that you are trying to invest.

When you purchase with an FHA loan and a 3.5% down payment you will need to pay PMI until your equity increases another 16.5%.  

What are you seeing in Pueblo, values increasing?

This would increase the overall raise amount, address our challenges of raising capital per project and the returns would be shares of all the projects.

How do you best utilize all the resources (networking, podcasts, resources) that BP has to offer on this site to increase your net work while decreasing the time it takes you to achieve your goals?

I'm looking to learn and develops relationships and potentially seek some investors in my projects for some good returns.

You can offer to move them into the newly renovated unit at the increased price and with a standard lease.OR you can tell them that the rent is going up $50 every 6 months until it hits market and that you will be requiring a standard lease going forward. 

@Matthew Charron I do hope someone takes you up on your offer.In case no one does though, I'd recommend you attend a local real estate investor group like Black Diamond REI in southern Mass. or RI Real Estate Investors Group in RI.You'd want to engage several people in conversation, particularly during the times at the beginning and end of the meetings when folks typically network, and maybe ask a few folks out to coffee.Many people look for "mentors", and that might work for you, but another approach to consider would be just to try making friends with people who are one or two steps ahead.So maybe they're not successful full-time investors (the Holy Grail of Mentor-seeking), but instead own one or two rental properties, or have done one or two successful flips, or really anything in one of the directions you want to go.I find that can be easier to achieve, and you can get a lot out of it because such folks are very familiar with the challenges you face - after all, it wasn't long ago they were at that same point themselves.

@Clayton Crouse Seek out good advisers.