Truth is you could have invested just the $5000, added the $362.50 monthly to the investment on a monthly basis.  

You would then stress to not incur any improvement cost above $22,000 or you may have to liquidate the property.In this scenariod, $60,000 if you are making an above return at 10% to 12% annually + $30,000 making $4% in a HYSA, the average return is maybe around 8%The blended return would be about 9%You may be better off investing in the stock market, get a slightly lower return but without all the added stress / work.

You can check tools like Niche, Roofstock, Zillow, or even just Google Maps can help you get a feel for neighborhoods and properties. 

How much value do think the SFR is adding to the 550k value? 

You can cold call, door knock, do social media ads, mailers, network, etc.

Now, say in yr 2 you have to do added work and spend another $10k of improvements.

In the past 10 years, Ocala has greatly improved the employment base, adding tons of logistics and distribution jobs on top of the medical, service and equestrian jobs that we have always had. 

Hi Angelica,Just adding my own 2 cents worth here from a deal I did not too long ago:I bought a prop off Auction.com about 2 years ago.

Adding 1-2 doors this year would be awesome. 

I've just recently added a coin-op washer and dryer to a 4 unit.