I have another property from a family friend that is being sold  for 150k, and the estimated value is 340k. 21 acre road front property w 3/2 bath.

Network with experienced investors, choose a real estate strategy, research markets with job and population growth, learn financing options, familiarize yourself with property management, develop a long-term plan, and leverage your stock experience to evaluate markets and trends.Good luck!

This isn't to say you can't flip properties part-time, but it will come with challenges.

I would give it some time for lenders to catch up on this type of property.

Is it best to have a bank account for each property or one account per LLC?

We manage several hundred rental properties throughout the San Diego market and I found your post very interesting. 

My name is [Your Name], and I'm a licensed architect with a passion for turning ordinary properties into extraordinary investments.A Bit About Me:Architect & Investor: With over 10 years of architectural experience, I've had the privilege of designing and revitalizing a diverse range of properties—from cozy residential homes to bustling commercial spaces.

Quote from @Jimmy Lieu: Quote from @Andrew Syrios: The BRRRR strategy is tough these days (I even wrote an article about it that goes into more detail a little while back: https://www.biggerpockets.com/blog/beyond-brrrr-taking-advan...)In short, high interest rates as well as labor/material costs makes it hard to buy a property with debt and cash flow. 

My next goal is to invest in a multi family property with a partner.Welcome to BP!

You are losing money on both properties.