I had someone who did somewhat the opposite, where they changed their mind and wanted 10' basement ceilings and did not check the grade with the invert of the sewer in the street and had to add pumps etc. to their system. 

I would t go much lower unless you can estimate rehabbing accurately or bear in mind the asset class to vacancy and other variable cost issues rising.

I would recommend first, finding and joining at least one if not more local real estate investor (REIA) meetup groups (look on Facebook or Meetup or just search online) and try to attend as many as you can to network with local folks doing all different avenues of investing.

Application of the 70% RuleWith this in mind, let’s examine the application of the 70% rule.Housing inventory price pointThe 70% rule can be adjusted, depending on the price point of the housing inventory.

In my mind, the agreement would look loosely like this: The option buyer pays an upfront fee to the option seller, giving the buyer a right to buy the property at any time between now and a certain date in the future, for a set price.

I’m here to learn, grow, and connect with like-minded individuals who can help guide me along the way.I’ve been fortunate to build great networks so far, but I know there’s so much more to discover in the beautiful world of real estate.

Just bear in mind...you will probably operate in a grey zone (unless you open a business and get the licenses, which most people don't care to do) and obviously need quite some cash to get started seriously.

Do you have something in mind to purchase that a $30k downpayment will make sense?

Mind you, this is in the Jackson area.  

I don't mind at all a contractor charging a markup on material.