My inclination is to suggest paying back the PML 70% of the land proceeds (presumably $168K) at that closing and then hold the remaining loan until I sell the house. 

I had to have an awkward conversation with my favorite realtor when their broker suggested everyone had to pay a $700 “document fee” on every sale.

Since this is my first project, I’m very open to any advice or suggestions—especially regarding potential obstacles I might not have considered.

We will have lots of renovations and additions to do over the years, so I'm worried that it will be hard to save up for more rental properties.Any suggestions?

Are there any realtors you suggest reaching out to?

Here is my website if you have any suggestions: https://maxiemaids.com/I've tried using cold email and some cold calling to get in contact with realtors and property managers, but it has not turned into consistent business. 

I would suggest you up your rate from 8% to 10% to help off-set some of that cost. 10% is doable all day long here in Texas.

Connecting with local contractors or experienced investors in your area is also very helpful for getting accurate numbers.For ARV you’ll want to look at comps; You can start on Zillow or Realtor.com but I highly suggest connecting with a local agent.

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

In this case I suggested a 10,000 gallon water tank with just one of those meters attached to it.