You can't even drive by and look at a tree before you decide if it needs to be trimmed up or cut down.2.)

However, in California, each LLC incurs an $800 annual franchise tax plus gross receipts fees if revenue exceeds $250,000, and property insurance may cost more.

Again I cannot collect rent to justify this cost/effort.  

And that can cost you time and money.

(wisconsin)How can I best position myself in this deal where the lender is comfortable and we have a solid prefab, but also workable to where I can keep my sale price competitive and build costs down.This lot is within spitting distance of the lake.

Ultimately, it’s essential to consult with your lender to understand what’s best for your long-term goals and costs involved.

My budget for the first property is $50k ~ $100k total cost (including rehab).

@Cameron Porter ultimately the most important part is the ARV, inclusive of the expected rehab costs.

Run the comps, calculate repair costs, and plan multiple exit strategies so you maximize every deal—whether that’s wholesaling, flipping, or holding for cash flow.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.