Create a list of items, their cost and where they should be purchased.The next big things is labor and how many hours it will take.I remember approaching workman and contractors at Home Depot about 6 am, picking up material for their jobs.

It does require some different approaches to management at times but if the process is understood and planned for it is great.  

@Stephen Nicholson In some cases I've invested money to form partnerships, where one of the partners brought the financing to the partnership.  

If you want to start making money here is my advice: get an education, find a partner if funding is an issue, and approach your dealings in an honest, fair, and legal manner.

why has no one brought up that they should move in together rent the other house pool as much cash as possible  then do an FHA for your primary living quarters  live cheep and do it again    

Turn Key provides built in relationships but there are draw backs to that approach( you will typically loose a lot of your equity capture as that becomes the providers profit and not your wealth).

It seems like an OK plan, but I'm wondering if there's a more organized approach to take.Thank you!

I'm not sure what the other owners want but I was looking into it because as a potential investor, it was brought to my attention that the road was not maintained by the city/county.

Please let me know what questions you have and any more info you need.Here are the inputs:Purchase Price:  $171,000Interest Rate:  5.125%Down Payment:  15%Total Amount Brought to Closing (down payment and closing costs):  $22,875Gross Rental Income When Bought:  $1,050Gross Rental Income 1 Year Later:  $2,450Monthly Water Bill I Pay:  $83Property Management Fee:  Assuming 10%, but I manage this property for now, so for now it is 0%.  

Welcome @Joshua NapierSounds like a good approach.