As I am very green to this part of the industry, any advice would be deeply appreciated.

Otherwise, those who have only invested the last few years having seen nothing but green pastures may have a skewed perspective.

Which is why David Greene, of Oakland CA, is doing the same. http://greeneincome.com Which is why many many many investors are doing the same.Math doesn't lie. 

I've been watching podcasts, reading blogs, and studying how to be successful in the real estate business for the last 3 months (still very green) and looking to not only jump in but build a sustainable career.

They have given us the green light for up to 100 properties in the first year!

(again depends on which path you want to dive into in REI) playing with the numbers so when you give yourself the green light you are ready to go. just be careful not to fall into the trap of paralysis/analysis. but take your time, educate, evaluate. 

There are so many reasons...Bad things happen to good people...I believe there no one God's green earth who wants to lose their shelter.   

Do you like blue, pink or green, i.e. what is your risk tolerance for having a bigger mortgage?

Originally posted by @Lee Greene:@Alvaro Alvarado, welcome to BP!

I don't have any inside before pictures but imagine the whole inside with orange carpet and puke green paneling and you would come pretty close.The house had a new roof, furnace and breaker panel installed within the last 5 years so major repairs should be a long time off.