I like to plan ahead ;) I like the idea of showing the place once I get their notice to fill in any gaps. 

Since I was in Texas and planned on staying there after college and I found out if I passed a test I could get my broker license, so I took the test and got the license even though I never did that full time.  

Do you plan of hiring all the contractors, creating the design, and managing the work yourself? 

I was trying to be conservative because I'm nervous about not being able to find a tenant and having to cover extra costs because I assumed incorrectly that I could get more for the rent.I was planning on occupying the upper, yes and it is already vacant.

I don't figure to increase to much in the next few years (my 5-10 year plan is to increase to 10 if I find the right deals).

Goals -Refinance soon-  I planned on going 15yr with the lowest interest rates I can get with a credit rating about 740- Yes I feel more comfortable getting stuff paid off quickly rather then having lots of 30yr loans-Build 20% equity with improvements prior to refinance-No more PMI !

I am planning on moving into one of the three units when one of the leases runs out.

I will also proceed with removing ground rent since I plan to hold the property for a long time, it also helps a little bit while selling the property.

My general approach/plan is to find a pre-foreclosure home that I can pick up below market and rent out, ideally to the tenant currently in the house.

I plan on doing exactly what you are doing here in Charlotte, NC.