Since you know what you need to buy it at and an average rehab cost, I would say $50-70k for a cosmetic flip, set the ARV based on the sample you choose and doing comps and ask them if they would invest in a deal similar to this. 

Some investors will wait until they have several properties before forming an LLC but it's often beneficial to set one up early especially with your first property.

When we built up the triplex, we set it up so that each of the 11 rooms can be rented out individually (all BR, except 2, have their own bathroom behind an electronically locked door).

I'd target areas near colleges or transit hubs for affordable properties, and I’d look into financing options like FHA loans or creative financing to make the most of my capital.

Once you set up the tenants in the system it works great.

I just finished reading "Set for Life" by Scott Trench.

Many experienced mentors in this group can help guide you in the right direction.I highly recommend saving as much as possible and setting aside a hedge fund for financial security.

With that, you could cover the costs for renovations, closing costs, or even set up escrow for those senior living sponsorships.

*Another Exciting Development in Charlotte*The Iron District is set to break ground next year (address 905 w morehead st.)The Iron District's strategic location offers easy connections to Uptown, South End, Wesley Heights, Freedom Drive, Camp Greene, I-77, I-277, and Charlotte Douglas International Airport.

Keep in mind that pool maintenance and chemicals will set you back several hundred a month, plus higher insurance, utilities etc.