At this time, I spend 7K annually on fees to my CPA for tax only so this initial figure would be higher but in theory the return should ultimately be more if everything goes according to their claims. 

Ultimately, our company, like any company, has/had employees who make mistakes, and we certainly made one here.

I find that all of our tenants when we say we don't use property management they jump for joy and say their prior landlord/property management was terrible to work with.I just assumed that everywhere has bad landlords who aren't willing to do the right thing for their tenants, which ultimately leads to happier tenants, longer leases and more $$ for us.

We ultimately decided to keep the other property and slowly renovate.

Here are a few I recommend: "Rich Dad, Poor Dad" by Roberto Kiyosaki; "Set for Life" by Scott Trench; "The Unofficial Guide to Real Estate Investing" by Spencer; "The BiggerPockets Ultimate Beginners Guide" found here on BP; "The Book on Rental Property Investing" by Brandon Tuner.

You could look at charging interest plus getting a percentage of the profits, which boosts your potential earnings.

Ultimately it is their decision what they want to get. 

It may be for rehab price ultimately because I think the lot price for new construction is in the un 20K range for now.

So I was talking with my mentor about acquiring a property to boost my networth.

Ultimately, it depends what your goals are on which method will fit best for your situation.