Based on you OP, I would consider keeping $50K in reserves in checking or savings account.

I had to learn how to guess how much value I could add to a property and base my guesses on facts.The journey was already hard because of the lack of experience and information at the start.

I know eXp has few fees, but they have a heft tech fee since they are a cloud-based national brokerage. 

Joanne There are insurance companies that will insure more than 10 properties on a personal umbrella but it can be tricky based on the companies providing the underlying insurance, the makeup of the portfolio, the state you're in, etc. 

However after all the work thats required which includes landscape, parking lot, fencing lighting and interior/exterior work, it looks like the presumed cost of remodeling it will be double that, although Im not positive (still taking bids).Ive priced a comparable property in our area which has similar square footage and lot size and they seem to be going between $700-800k, and so my question is: based on a higher than expected construction cost which is necessary to finish our project, one which will exceed the amount of money of what a similar property goes for in our neighbrhood, should I continue with this project, or an alternative plan would be to simply beautify it for approximately 100-150k and ditch the plans, and flip it instead for approximately 700-800k now that its zoned commercial.My fear is that if I do invest the moneys to finish the project over the budget I initially priced it for, and the business doesnt take off, I would initially lose money on this investment.Thank you for taking the time reading this.

There's an entire semester-long course in law school called Civil Procedure (the absolute worst - *shudders with fright at the memories*) about figuring out the answer to that question based on the facts.

Also, here's an update:Spoke to a Property Management Co. based in Northeast Philadelphia:They said that you will have to wait the 4-6 weeks to get the license and then the Certificate, apparently it does take them that long.I also spoke to a Philadelphia 3-1-1 line Government representative:He said alternatively you can walk down to the Philadelphia Municipals building and directly request for Rental License, however, he warned that you need to bring a MONEY ORDER for the dues as well as it taking 4+ hours on a business day.

While you mentioned they would be primitive, you may still need to clear and level the sites, provide fire pits or grills, and establish basic sanitation facilities like portable toilets or a designated area for waste disposal.Accessibility for Campers: Making the camping areas accessible for campers and overland vehicles can broaden your potential customer base.

Based on the data you provided, it's indeed not easy to achieve positive cash flow.

It's opinion based and requires market research, but in general you need to compare prices vs. market rent, size, condition, and homeownership vs. number of rentals.