The home needs a lot of work, including lead paint removal, some asbestos removal (don't know of the extent yet but I'm planning for the worst), new roof, new siding, rewiring, and an interior gut and reno (kitchens, bathrooms, etc).

Refinance into a conventional mortgage (Variable down, Interest rates up to 10%, harder to qualify for, lots of red tape) for a percentage of the ARV, the difference between the total cost for the HML and the dollar amount that percentage represents is what you get back in cash.

No big deal, I included that in the contract and then also disclosed that I was an agent acting on my own behalf.

I really like the images included at the bottom of the automatically generated expense reports. 

Currently it could be rented for 6k all included and I have told the owner that I can pay him same amount with option to purchase it within 1 year. 

Notify her that her contract is terminated for various reasons including failure to deposit your money and respond to your contacts.

There are many other fun things not shown: Complete rewiring of all electrical, including new meter base and panel.Lots of attic and crawlspace work.Insulating walls, attic, basementAnd so many other random tasks that eat up hours and days, even though it seems like nothing at all is getting done. 

Expenses including CapEx is at 39%

Lincolnville is way over priced now that the hipsters have discovered it and of course it was flooded during hurricane Matthew...now the city might make you bring the buildings up to code which can include lifting the houses up ....I would be very careful about any "deals" that suddenly pop up ...here is an article that explains ithttp://staugustine.com/news-local-news/2016-10-28/hurricane-repairs-st-augustine-flood-elevation-standards-could-be-concern

It is hard for young people (myself included) to get into the investing world without any experience.