The goal is to achieve and maintain financial freedom.

If so, invest.Then ask yourself if you're financially fit; can afford this property to make it 1.25 DSCR and have significant reserves for vacancy, capex, lead times, etc.

Unfortunately with those numbers it's tough to find a non-bank lender/financial institution that will lend.Usually loan minimums are $50K and the up to 75% LTV on purchase-money/70% LTV on cash-out refinancing, which basically means you need up 25-30% depending on the type of financing. 

@Dave AllenRecommend 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?

A market like Boston has a long track record of appreciation in excess of inflation/cpi.  

The floorplates and inefficient use of land (due to parking) make it difficult to create financially feasible and useful reuse projects. 

If you believe you will be financially ready to build a year from now, perhaps you enter into a lengthier contract where you can obtain all of your building approvals and then settle at a later date.

what kind of investment was/is this  a little more detail may protect others if you think this person is a financial predator.  

You'll have your standard recording fees and mortgage tax, etc. 

On the business management side, I've invested roughly $10k into the systems for financial and operations through courses and consultants.A great Facebook group I'd recommend Remodelers Community -- I know it says remodelers but this group has a resource called the "remodelers vault" where members have pitched in their resources like contracts, cash flow trackers, QC checklists and more that are invaluable starting out as a residential GCBest of luck, you got this