You can assume about 1% in closing costs in addition to commissions so you're starting around 7% before the seller gets any cash at closing. 

Quote from @Andrew Swaim: hey everyone, I have a couple investment properties but i have never found a awesome discounted deal, the last BRRRR i did was just alright, i started using deal machine but all my cold calling is coming up empty, the wholesalers in my area have been sending out crap.

@Malcolm Brown it is great that you are thinking of the money to fund the deals you are going to get started with but understanding what a deal is, I think, should be the starting point. 

I myself don't have a lot of appetite for risk which is why I started investing in real estate.

If you drop the PM and hold this property consider it a fresh start. 

That's a great person to start with!

I’ve been dreaming the last few years of starting an event venue, something for weddings, gatherings, etc., preferably with a great outdoor space.

I just don't want to start working with a realtor and waste time and end up with no real solid prospects for buying.

If you used them to purchase another rental/ use for another business endeavor...the process starts over. 

You may want to start with the BP agent finder for those markets and then work with them to find good PMs and lenders.