I am very new to real estate investing, but I want to start out on the right foot.

When I visit LA for the car show and I see people sitting for hours in traffic I just chant “new job or new house, new job or new house...”

The details are as follows:Property is a 1500 sq foot duplex here in Louisville (40217 zip code) that needs pretty serious renovation (finish hardwood floors, new kitchens, bathrooms, new paint, windows)  Mechanicals are good and do not need replacing. 

Someone doing that at a decent price will be in the $8-10 per linear foot range. 

I'm trying to get my books started on the right foot and while I have a pretty good understanding of how to set up my Chart of Accounts and get things categorized, I'm a bit confused as to how I account for the initial cash that I used to purchase the property and pay for the renovations.I opened a new bank account, sold some other investments, and transferred the proceeds of those sales into the new bank account.

I’m just getting started into real estate and looking for a good way to get my foot into the door and make sure my lender gets paid back and I make money as well.

I was wondering If you guys knew a good lawyer and a CPA to help me get started on the right foot.

The cost will vary depending on the clearing that needs to be done, size and specs per zoning requirements but could run anywhere from $5-$20 a linear foot.

@Andreas Witt I'll break this up by the two lots you're describing:South of Cape Coral Parkway West: The average house in this area is 2000, so a 1750 square foot home would not stand out well in comparison to the other homes in the area.

Lots of traffic all day on the road coming in and out of town.