My kids can deal with that "lucky problem" some day.From my perspective, use a good PM and the only headache you have is remembering to enter the direct deposits each month!

Late fall of 08, picked up a 3/1/1 in a decent lower middle class income neighborhood. paid 50K, put about 9K in repairs (did them all myself which took too long but I learned a lot), used hard money for purchase and repair (don't remember the terms now), refinanced and rented out in the summer of 09, same tenant lived there ever since and has verbally committed to 3 more years.

You also need contractors who are licensed to do the work for something like that (if I remember correctly).

Remember you can do a master lease with the first right of refusal to purchase after 5 years. 

I remember my go-to-guys eager and hungry for business, now say they have larger projects or just don’t care.

We had something like 30 days to close with a 30-day extension (can't remember).

LOL I don't remember.  

You can do a lot of internet research but you still have to remember there is a risk to evaluating properties and neighborhoods from afar. 

Remember, the Developers only motivation is to SELL all the units, then he is out of there!

You can perform a rollover once per 365 daysOtherwise, if you feel the need to withdraw the money for potential use in real estate, remember that you can withdraw your contributions at any time tax and penalty free from a Roth IRA, however any EARNINGS you may have accumulated do get taxed and penalized if you try to withdraw them.