I would say 50% of the problems in rentals are repeats of the same issues so if you can get some basics down, you will be set.Worst damage?

I know it's repeated often but you have time and I'm sure a talent that an experienced investor needs and would be willing to trade for teaching you the ropes.  

Also, as I repeated again above.

Even though revenues are up now, we are setting aside more in the "rainy day fund" because history has a way of repeating itself.

So at this point, at the end of Year 2, I have $37,500 (which comes to $13,500 from the SFR's plus $24,000 from the day job). 5) Repeat.

Once such a request is made, it usually takes longer to conclude the case.Quite frequently, discovery is involved.

Do you guys change the mailing or do the same mailing repeatedly?

You have a great opportunity to learn a ton, learn the market (the Bronx and Florida), and acquire some rentals at a lower interest rate that will generate cash flow and that you can use as leverage to acquire more properties down the road.I just wrote a marketplace post on a deal I'm doing using this BRRRR (Buy Rehab Rent Refinance Repeat) strategy:http://www.biggerpockets.com/forums/517/topics/211...Use this time to connect with local & Florida investors, learn how to evaluate deals and clearly define what you want your RE business to look like.   

My initial idea was to purchase a duplex, stay for the yr required for FHA loan, refinance, and repeat.

I've frequented many meetups in Austin and Guy's meetup is one of the best.