There are three components that are necessary to start your investing career off on the right foot. 

Is the property and all its components (water, sewer, electric, etc) on one lot, or is it built on both lots?

I suggest you find a similar comp on the MLS/pseudo MLS sites and see the tax information for the previous year.

A good GC is the last component of my team that we need.

Understand that I'm not suggesting you get licensed as a prerequisite however the education component, liberation and access to MLS can all be very helpful when jump starting your career.  

In this case, I was able to find a comp ON THE SAME STREET that was bought, rehabbed and sold within the same 6-month comp period.  

BP is an awesome place to bounce ideas off other investors.Regardless of the strategy you decide to take action on, taking action will be the key component.  

There are other components(which I encourage others to elaborate on and/or you to read up on), but the main thing is to absolutely keep the LLC account separate from your personal account(s).

The key is not overpaying for an owner finance component to a deal.Marc C. said it himself that he is putting in a personal time and energy to find this situation ( Of course, I'm not talking about listed properties, but value-adds I find myself through direct mail and networking.

Get a mentor to help you and always Check with an attorney to assure you are in total compliance.I build new for rental primarily for the following reason: 1) I am a builder and have the KSAO's (knowledge, Skills, Abilities, and Other) means necessary to efficiently and effectively build; 2) I buy all my land substantially below market value (usually off-market); 3) any land I buy at market has an immediate value-add component that can quickly make it worth more that what I paid for it; and 4) Cap Ex is generally MUCH less for new construction which means a stronger cash flow up front, but you are always going to need to maintain a suitable Cap Ex account if you are truly going to hold for more than I'd say 7-10 years.... but everybody has their separate opinions and thought process concerning what the "right" amount to designate to Cap Ex is proper.....