Not much to update this time
I ordered some test articles from a BHW user here, Deleted member 84902, and the content was very good. I'm still testing out some more article writers, but just gave Deleted member 84902 like 70 more articles to do.
I'm getting a pretty steady 10 visitors / day for the real estate website, and about 5 visitors / day for the dental website. Most of my traffic is coming from other websites, but I am starting to rank for random keywords on G, even though I still haven't done much backlinking.
I have 6 real estate kw's in top 100, 11 in top 200. I have 1 longtail ranking first page

For dental I have 3 in the top 100, 4 in the top 200.
Some key realizations for me: Because I did poor kw analysis in the beginning, doing the backlinking part for keywords is going to be a lot more messy. I went through all the keywords, put them in Excel, have the traffic info from Adwords, and competition from TrafficTravis (Thanks johnnyd77). I still have hundreds of keywords, so I filtered the kw list down by hiding kw's with less than 500 exact local/mo, and less than $10/mo rev with the LBrown estimated adsense rev.
I try to rank my kw's based on "return on effort spent backlinking" which is roughly potential revenue vs PR and # backlinks for each kw. And here's how I do it:
I export the competitive research from TrafficTravis and merge my data to excel. So then I have keywords, with the number of local searches, value, and competition data.
I sort Z-A for money, then A-Z for backlinks, and then A-Z for pagerank. This gives me a list of keywords sorted by highest value, lowest competition. Then I backlink according to the order of the kw's. This way, as the authority and trust of my site increases, I can compete and rank for higher more valuable keywords. Hopefully this works out, haha.
Backlinking Strategy:
Think I've read 50+ different threads on backlinking strategies. They all basically come down to really similar points:
1. Make sure your site has unique human written content and good onsite SEO.
2. Make web 2.0 sites manually or with senuke, and add unique (or quality spun) articles. These point back to your money site either homepage or inner pages.
3. Blast the web 2.0's with SB, AMR, forum profile links, social bookmarks, etc.
Shoutouts to xenix9 and NapsteR for not only outlining their methods, but also being patient enough to answer all the newbie followup posts in their threads.
Todo:
Do xenix9 method for 20 keywords I want to rank for. I need to setup TBS and do 10x web 2.0 for 1 kw. Then I can outsource the task to a VA after I know how to do it myself. After that, I'll get and set up AMR, read a bunch of guides, and set up an AMR blast to random directories. If I'm running out of time, I'll look for Fiverr gigs. The 20 kw's are not that competitive or high traffic, they'll give me an estimated $1,000/mo rev total.
Summary:
Instead of outsourcing all the backlinking, I want to try doing manual linkpushes myself for 1 month, see the results, and then decide if I need to hire a pro to help me rank. Think I'm getting the hang of competitive analysis. Also I am talking to BHW Stephan to see if he can do some kw research for me to make sure I can at least guarantee some low competition, good earning kw's.
$0 spent
8 hours reading BHW and reviewing content articles for uploading, 1 hr with RankTracker, 5 hours with TrafficTravis and Excel
Running Total: $854
Total time: 86 hrs.