Simply reducing your expenses in real estate IMMEDIATELY makes your equity rise and also your net income.

Quote from @John Underwood: Also insurance rates are cheaper in SC than FL.Heavy emphasis on this one, especially if you are doing any kind of BRRRR, not only will insurance be expensive, but might also be tricky to find as some providers have stopped servicing FL all together. 

If you know you can't or don't want to deal with people then factor in a property manager for expenses.

If you mean whether the building is a good buy or not, if I can get the seller to my terms, I'm certain that it would be if the cost of the downpayment isn't exceedingly expensive, hence my post.

Any additional expenses incurred in preparing the land for sale (such as adding driveways) would also be included in the cost basis.In summary, you would typically report the capital gain from the sale of each parcel in the year the sale occurred, based on the cost basis allocated to each parcel.

Properties here are pretty expensive and want to know if it still possible to be successful here.

Why its so important because the appraisal better come back with at least 20-25% equity left over so you can pull the money you used to purchase it and do the repairs.That said, you can use cash, get ahold of a hard money lender ( most expensive option), or get seller financing.  

Calculate your expected rental income, operating expenses, and cash flow. 

(assuming I still want to buy as is)A sternly worded letter from an attorney advising that the buyer intends to pursue all available remedies (including recovering all costs and expense incurred in enforcing the contract, if it provides for that) tends to help most sellers understand the reality of what they agreed to.If the contract isn’t bulletproof this is when the buyer makes that unfortunate discovery.

Liquidity in an estate is crucial in order to pay expensive estate taxes without having to sell off assets within the estate.Estate Strategy FlexibilityA cost segregation study allows you to make strategic decisions about a property and is very helpful with property disposition (ex.