What's the supply/demand for rentals? 

Either way supplying the info before is better than trying to fight later.Same with any improvements you have done.

I'd look long term where job, income & population growth are strong where supply will be hard to keep up.

You have energy, age and ambition on your side, and some nest egg to get you going, however, three rentals is a bit on the skinny side, unless they REALLY cash flow.First thing you need to do is to supply yourself with enough to pay the daily bills.

@Stephen Keighery  I generally have not priced out individual prices like you have listed, but can provide some data for some of your items.Replace plumbing (all drain and supply on raised, all supply and drains only above top of slab) - I use $700 per fixture as a general rule, not including replace of the main drain under slab houses.  

@Calvin KwanI don’t supply W/D or fridge personally.

I don't see that change, we just don't have enough and there is no new supply, just limited inventory.The other issue is that you can't create any significant wealth on cash flow.

Hey @Drew Hunt, I agree that there is a very limited supply of duplexes, triplexes, and fourplexes in Birmingham, but they come available every once in a while.

You should experience great returns on your money here w/ SD's growing & resilient economy & low supply / high demand

Agents can supply you with sales comparables, rent comparables, and they have knowledge of the best and worst neighborhoods in the area.