I would actually suggest you spend that money to get your real estate license and hang your license with an e-brokerage. 

@Jeremy Altdorfer  Just adding to the above, the rent should be on Sch E of their tax return. 

I do these project, but I am going to PM you the contact info for an A/E with a lender that does larger investment projects like this.

stacks of capital for unexpeeccted repairs, zoning, headaces you simply can NOT forse e until it happens, and 6 months of the mortgage in reserves for vacancy/ job loss. 50k an d8k in credit is mayb safe to by 1 property. that 38k you think is left, not nearly that will be left over. so what is leeft..... theere are your reserve. you have noting left to get another property

I used to manage them when I was learning, and I understand people who want to learn, but juice just isn’t worth the squeeze to me. 

E  I ended up joining Thach's mentorship program "Springboard to Wealth" after not really finding good support on Bigger Pockets. 

As a single-member LLC, the IRS considers it a disregarded entity, meaning the income, expenses, and other tax-related items will still be reported on your personal tax return via Schedule E.

I also suggest Michael Gerber's "The E-Myth Revisited" as well as his "E-Myth Real Estate Investor" collaboration with Than Merrill and Paul Esajian.Remember - 90% of this business is marketing so don't let all the other stuff, like obsessing over business cards, get in the way of that.Good luck!

@Fareen E.

I am trying to figure all that out - is the juice worth the squeeze?