Lots of options and food for thought here!

This is a safety factor on top of the elevation that FEMA says is the 100 year floodplain.  

So consider this: If you can find an investor (that you want to learn from) that self-manages and whom's portfolio is growing to a level that it is becoming hard to self-manage, you could offer your services in the style we discussed above in a partnership, so to speak, where you help him with his investments while learning how and why that person is so successful.Just some more food for thought.

Be conservative in your estimate of ARV...the pool of buyers is still very limited in this neighborhood due to crime and safety...if you decide to push ahead, your potential buyers may be limited to singles and couples without kids.  

First look at that. 2nd, I never allow tenants to perform work at or on the properties for safety and legal reasons.Have it done by a professional who has a license and insured, plus you get a warranty on their work. 

That way each tenant can keep some food for themselves away from the shared living space.

Probably my own fault for not checking what the tenant left behind but it literally looks just as it did last time I was there - there are bananas and bread on the counter, fridge full of food, clothes on the floor, dishes in the sink...

I think I've become more focused on buying properties with a margin of safety as I've gotten older.  

@Bryan Pham,Just some food for thought, I have gone through a couple of CPAs in my area and then got one from out of state that was recommended to me.

To keep food on the table while making them comfortable.