My personal funds are now patiently waiting for the next cycle, but have a few target types already ;) My personal real estate goals are long-term. 

Lastly, if you do not want to be a landlord and are not set up for it, the over goal is to keep that part of deal between the seller and tenants.. you should not be dealing with the tenants at all..

My goal is to finance the re-hab as well as buy a second rental in the same market.

As far as where and all that, a lot of it depends on your own interests and goals.

Sounds like we are in the same boat and have similar goals.

My suggestion to anyone flipping in Newark though is that you have to know the area well enough or have the property secure at all times because of vandalism on properties being constructed is pretty common.

Anything that forces you to take a step towards your goal is a good thing.

My goals are lofty to say the least but I believe that it is possible to achieve them even thought my parents and everyone else says they are just not going to happen. 

More importantly, a GOOD realtor who takes your criteria, financial situation, short-term & long-term goals into consideration is going to be a huge asset to your REI career. 

You get going quickly towards your goal of building passive income as the niche you are calling out here, large value add MF apts, are excellent ways to do this.