I ended up using a combination of my reserves and a private loan from a friend to close on the home before it was foreclosed on.

Unless you live in a state where deposits have to be kept in a separate account (google) I would open 1 business account and a credit card for the rental property. 

I think you’d be surprised what a difference having a hot tub could make to getting more bookings and a little extra revenue.

@Logan HartleI have done a couple like this and as Greg said the hard part is guessing what your future tenant will need. (# and size of offices, bathrooms,doors, windows, floor drains, lights, truck docks).If you make an educated guess you will likely still be tearing out or changing brand new walls and concrete, but if you leave it incomplete it is harder to rent.Plan on some extra expense for those tenant improvements.

Prices have dropped, with general admission now at $350 and a 3-day pass at $600.

(And as a conservative investor I personally would never touch any of the Cardone deals, for multiple reasons).Asking for total returns on this is like asking for the total returns of someone who invests in hedge funds (and expecting it to apply to your own experience).

Noah,I'm an Army Vet who started from 0 :)I'm currently a realestate broker for Armenta Realty (CA and AZ) and a mortgage loan officer in your neck of the woods.

We (me and a 50% partner) recently paid off our first property (a rental duplex).

We spent 10 years and then sailed away on a sailboat paid for with tax free dollars, 3 waterfront vacation rentals paying for the sailing, and a custom built dock in the back of one for when we were in town. 

But with all major repairs done and a cash flow of $4000/month (with healthy allowances for maintenance and cap ex) we hope to start taking a monthly cash out in a year or so....