It is going to cost more than you expect, and you'll have that "Oh, crap!

So the only money out of pocket is any closing costs that don't get worked into a new loan.

What marketing strategies are the most cost effective?

Whether the seller was open to a buyer commission or not, I wouldn't put an additional cost into any personal purchase.  

We needed to build more there but the cost to build has doubled and the return is t sufficient.

@Yooni Choi managing from out of state (OOS) with ZERO previous landlord experience - probably won't go well.You WILL make a lot of mistakes that will cost you money.

You end up with Hotel Quality sheets / soaps for the cost of Amazon or even less.

However what happens when the tenant vacates and now the unit has to be turned over/takes a few months to find a new tenant and during that same period of time the sewer line goes and you get hit with that $15,000 cap ex expense in addition to the vacancy and turn over costs.

The process from start to finish would take four months and cost ~200k to build, with comps in the area around 355k-lender man said, refinancing would take six months as most lenders wont refinance a property unless its been built for six months, affecting the strategy to get paid out from refinancing quicker and closing out on construction loan-The property would not appraise at comps value, but at the cost it took to build, affecting getting paid out from the refinance.

@James Boreno You’ll likely owe taxes, but don’t forget to account for your adjusted cost basis, which factors in the original purchase price, depreciation over 10 years, and any capital improvements.