@Stephanie Medina, you need to scope out your competition. 

There are options to work with the title company after purchase (60 days) to buy it with conventional financing and then shift the property into an LLC with a quitclaim deed to get the same effect as purchasing with your LLC but you get the advantage of better rates with the conventional loan.

or better yet, go to the market you pick in person, and talk to the people you'll be turning your investment over to in person.3. yes, you need a team. 

Because the gutters usually a better solution at much lower cost.

With myself as an operator I would offer the following: underwriting the deals, a detailed scope of work, a detailed material list, the labor, and the management.  

I've learned a lot over my time investing in small towns and have found some great opportunities but just like any other niche market you better learn what you're dealing with or you'll get burnt.

I love the simplicity, the functionality and it's made me a better investor because I'm doing the financials myself and therefore have to really understand what is happening in my business.

Let us say you want to have a Section 8 rental, then first try to define what you can afford and where is that money will come from.

Depending on the scope of the conversion it could get quite expensive as well.

It is about disclosing the scope of the rehab.