I expect the same outcome that has always happened at every iteration, the corrupt and elite class will find considerable gains, the lower class will seemingly reap rewards and it will only cost their complete surrender unto the enslavement existence, and the middle class will be slaughtered and battle on.

I would iterate that you're doing this as a owner occupant and not 'developer' so that it's not strictly a financial transaction but you intend on staying here. 

As a small contractor our agility was key and BT made that difficult.

For one, you have more control and the ability to be more agile by not going the turn-key route.

Then I'll have a set ROI and sift through markets to see which has the best availability of properties with my target ROI... this is an iterative process between markets.Good luck investing!

BRRRR talks are interesting in longer term (and we'll do due dilligence on our research on whether out-of-state BRRRR carry sufficient risk we can't tolerate), but for us, to establish a solid, honest, trustworthy professional team of best people in the area (PM, KC, GC), and get it right for the first few iterations is much, much more important as a first step.

She just bought it so unless something has happened in her life, you may go through many iterations and find she does not actually want to sell and has been entertaining your idea to be polite.

Agility seems to be the key.

As much as possible I'd recommend getting really clear on your goals in life and how real estate fits into those, and then iterate from there.If you are buying at a distance (specifically you're not moving from house to house and collecting houses as you go) then it would be a great simplifying factor to buyer AN asset or two with many doors, but there are other ways you could structure it so that small multis are the way to go.So, back to the root . . . what do you want to accomplish in life, and what role does real estate investing play in that?

and the first iteration I found was from 2010.