In many markets where homes at that price are rarer it could take a year after you finish the rehab. 

I currently just finished setting up a vacation rental.

We have my old house as a rental, and are moving next week into a new one (that I'm just finishing up building), which will give us another rental.

If you can successfully navigate the initial small scale deal, attain results consistent with your overall investing goals, and still want to invest in real estate ( you mentioned in your bio other recent business ventures weren't right for you) then you can always move up to multi -family or commercial properties.Best of luck,Josh

Finishing up with tile instead of shower board is  a bit nicer and if the rest of the bathroom is new   probably more in line with the other finish.

A  couple of times we had someone move in within weeks of finishing.

Our contractor ingeniously relocated the water heater and concealed it behind a closet area next to the furnace and other utilities, thus allowing us to finish off the downstairs bathroom with drywall walls and tile flooring.

I am trying to leave myself with a large margin of error since this will be my first solo deal start to finish.  

In april 2014 my first flip home sold for 64k and now our second home is finished and on the market for 89k.  

Go for the podcasts and finish the Beginner's Guide.