Deal #1 done and a good deal for me.I have started looking into this "1980 Classic car" and it does not rise to the level of being worth $29k.  

It will be entirely difficult to capture enough of the market (neighborhood) to make a difference unless there is some philanthropy involved in the deal as the marginal price of each acquired property will continue to rise as the neighbors grow wise to what is happening.That said, gentrification and neighborhood revitalization are real constructs; so they must start somewhere...

If workers know they will be handsomely rewarded for doing good then the motivated ones will rise to the top.

(A side consideration here are other goals such as family, lifestyle, stress reduction, travel, or whatever apply to your situation.  

http://www.reviewjournal.com/business/housing/las-vegas-home-values-rise-faster-us-16-report-says

Hello BP,I am sure this has been answered before, but I did do a quick search on BP and Google and it gave me answers, just not what I was looking for.My question is if you acquire a new rental property, can you use the new rental income for consideration in the debt to income ratio for a different SFH rental property for a cash out refi?

If you are simply contracting a GC, then your value add is considerably less.Once the property goes into service, if you are going to be the PM - find, screen, place, & manage tenants -  then 10% of effective gross revenue would be fair on a single small property.  

http://www.curbed.com/2016/5/19/11713134/affordabl...There has been a ton of news coverage in the past few years about the rise of rental rates throughout American cities.

With regard to CA, rental rates are currently low to FMV true, but that is primarily because underlying appreciation has been about 100% over the last 4 years in many areas with rents rising only about 40% during the same period, a most enviable "problem" to have for sure if you played it right.

I'll definitely take that into consideration - Great advice!