Often people think they have the skills and end up costing themselves more than using a contractor due to mistakes and issues on the inspection report due to incorrect and or work not done to code.Second thing to consider is do you want a hobby / job or a business?

And the moderate priced deals are in the worst shape.

Of course my major concern would be making newbie mistakes and losing a ton of money (I have been reading BP forums, books, podcasts, and local networking for 1.5+ years) but I still always have the fear of not knowing enough.

If they don’t they will likely be no better or worst than a common lease tenant , but Unfortunately they may less concerned in paying monthly rent as they have both the law and the preparedness of knowing they were going to move , it’s like they have nothing to loose by not paying and than moving when they are ready.

but... this seems like worst business environment I've experienced. thoughts? 

@Brian NicholsYes I agree that would be a worst case scenario in which ARV come in much lower than expected.

Make no mistake in that the smell of Aldehyde is like no other in that once you have had a whiff, not unlike ammonia or skunk (think marijuana cigarette smoke), it's definitely a strong scent you will not soon forget.

Companies, and it's tied to the #1 mistake more novice investors make and it is that P.M. looks easy, seems simple, and in reality it is a HUGE job that eat's time like a bottomless pit, requires considerable systems, and efficiency is EVERYTHING. 

I was very timid and worried about making a mistake so I did things on a very small scale.

I think paying cash for a liability, like owning a home, would be a mistake....Unless you are a Dave Ramsey groupie.