Buying my first investment , property some advice?

[Mike Sands]

Hey all! So I just signed contract for my very first investment property in the north philadelphia area near and around the temple university area. I bought it extremely cheap for cash but it’s a 3 bed 1 bath shell and needs a complete rehab. I want to use the buy and hold strategy. I’d like to do what work I can on my own and contract the rest to what I cannot do. I’d just like some advice this being my first move after reading and learning for a few years it’s a very big leap for me. I paid $6400 for the house, rents in the area are typically $1200-1500 a month, House is a complete shell and has some Structural damage from a tree falling on it towards the back. I want to use my 18 month interest free credit cards to pay for the rehab and cash out refi to pay those off after the job is complete, place either a college student(s) in the home or rent to section 8 tenants once everything is complete. Does it sound like my plan is realistic and Feasible? What strategies would you use and or what would you do different? Any advice or Constructive Criticism will be taken into account and thank you all so much in advance!