I'll take $100,000 in appreciation 10 years from now that I will be able to 1031 my way out of paying taxes on (or just cash-out refi) over cashflowing an extra $200/month with little-to-no appreciation on a 2%-rule property in Cleveland.  

Three 3 bed units, three 2 bed units and 2 units with either extra large bedroom or a spare room.

Some thoughts of what to do right away:See if the property is earning the market rate for rents (current owner says she does not know the market and has never checked).Find out if having the four tenants pay their rent online is an option.Track the leases (current owner has lost track of who is month-to-month, who is due for a rent increase, etc).Shop the insurance to see if they're overpaying.Since I'm new to this realm, I wondered: what else can a new commercial prop. manager do to quickly add value for their clients?

I agree the extra $ is worth it to work with closing folks you know!

BiggerPockets has already been an invaluable resource for me, and I'd like to thank you all for being so generous in sharing your hard-earned wisdom in the forums.

Do you think that starting with Flipping strategy, growing money, earning more so i can invest more, and than moving to buying properties for Buy and Hold.With the money from flippin turn to buy and hold and rent for cashflow?

Was wondering if this is the best route to go or would it be better to use extra money to give me and my wife's ira and 401k a big boost.

They are largely self-employed and - at best - under-report earnings.  

they raised ours to $85.00 /Yr to pay for extra police presence. 

The low credit score you've earned didn't happen overnight, nor will it be 'fixed' overnight.If the old bad debt you are satisfying is really old, they may settle for less AND they may agree to removing or otherwise not reporting any additional negative items.I saw a reference to Fingerhut and the like.