What if I want to do a full rehab in the future and the unpermitted work is discovered?

It really boils down to time.

As for cash flow, from sales; probably in year two and three which should match the timing for the housing market to reset past bottom of market and on to the stable appreciation side again.

Any advice to steer me in the right direction is of great value to me, thank you for your time and help!

You definitely need to be in MLS, whether you use a full service agent or a flat-fee broker depends on how comfortable you are with the process of a real estate transaction.

During the first year, my tenant failed to pay rent on time and sometimes we had to threaten him with eviction letters.

But, if I don’t accept and she doesn’t pay then I’m possibly in the eviction process after she’s left which means I’m still not paid and I’m out time and money for court.  

First of all, you picked a great PM with WHM - Ed has been running a very good business for a long time! 

This is the first time I’m seeing someone mention a 2nd position loan, I’ll have to do some more research on that topic.

If you are going to select a Realtor, Banker, Wholesaler select them based on industry knowledge, tenure and success in their field.I offer this in an effort to avoid lost money and most importantly lost time...