I've definitely made some mistakes here but I'm going to be very candid with the info on the deal, so please go easy on me haha.My brother and I purchased a property on a large lot in Culver City CA in 2020 that was essentially a tear down. 

Hopefully, you find it helpful and qualifies us to assist you with your goals:)---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Purchase price: $600,000 Cash invested: $30,000 Purchased single family home, finished basement making the property a duplex.

So I want purchase it as my first rental property it's going to need rennovations for sure not terrible shape just older rancher home.

You also will want to stick to on market properties at first because the purchase process and evaluation process (namely title and inspections) will be more defined.

Has anyone ever purchased a property from Omni Key realty in North Texas?

Before that, I purchased property in Rhode Island.

I have purchased my first home already!

Purchase price: $245,000 Cash invested: $80,000 I served as the buyer's agent acquiring this property.

The best option would likely be a construction loan, which can cover both the purchase of the land and the build.