I would say get the drawings, it's an additional layer of protection against cost increases on the construction side.  

What strategy gives you the best chance at meeting your goals @Ian Russell?

Those five cities has the best chance to go negative, but even a few months of negative will put year over year still in the positive. 

Dealing with a property that is in bad condition is usually going to have the chance at picking it up at a better discount. 

But the temptation is to be aggressive with debt because it increases the returns to equity investors.  

I am a newbie in all sense but if I can focus on trying to grasp this concept, I may have a chance at a real possibility like this sooner rather than later.Thank you all in advance who reply.Much respect,Dan Nieves

In my opinion the biggest risk is that you are very new to the game, and there's a high chance you will make a bunch of rookie mistakes.

You want to value to increase from what you paid for it (plus what you put into it for renos).

The idea is to ease her worry of future increases in her current rent situation by letting her pay what she can afford toward this new house and I would cover the rest.

If you have conventional financing on any of your properties, and don't want to buy anything right now, using some funds to make "chunk" payments could increase cash flow pretty significantly!